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-------------------------- BE4-3 Prepare and post closing entries. (LO 1) AP Rizzo Company has the following year-end account balances on November 30, 2017: Service Revenue $38,500;

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BE4-3 Prepare and post closing entries. (LO 1) AP Rizzo Company has the following year-end account balances on November 30, 2017: Service Revenue $38,500; Insurance Expense $2,750; Rent Expense $8,000; Supplies Expense $1,500; L. Wilfrid, Capital $42,000; and L.' Wilfrid, Drawings $29,000. (a) Prepare the closing entries. (b) Calculate the balance in L. Wilfrid, Capital after the closing entries are posted

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