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Capri Company began the current period with a $20,000 credit balance in the K. Capri, Capital account. At the end of the period, the company's
Capri Company began the current period with a $20,000 credit balance in the K. Capri, Capital account. At the end of the period, the company's adjusted account balances include the following temporary accounts with normal balances. $50,000 Interest expense.... Service fees earned Salaries expense... Depreciation expense. $6,000 K. Capri, Withdrawals...... 15,000 12,000 .31,000 Prepare the closing entries for K.Capri. Prepare journal entries in the following format. Dr. Cash............XX Cr. Notes payable............XX For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac)
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