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5. Refer to the information below to see how Lipsky Insurance Agency reported their finances as of September 30th. Journalize Lipsky's closing entries as needed

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5. Refer to the information below to see how Lipsky Insurance Agency reported their finances as of September 30th. Journalize Lipsky's closing entries as needed for these documents. Description Amount Sales and marketing expense $1,600 Other assets $500 Depreciation expense $700 Long-term liabilities $400 Cash $1,000 Service revenue $4,200 $300 Accounts payable Description Amount Accounts receivable $1,200 Journalize Lipsky's closing entries: Enter answer here

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