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Dec. 31 (To close net income to retained earnings) Dec. 31 (To close dividends to retained earnings) Selected year-end account balances from the adjusted trial
Dec. 31 (To close net income to retained earnings) Dec. 31 (To close dividends to retained earnings) Selected year-end account balances from the adjusted trial balance as of December 31,2025 , for Monty Corporation is provided below. Determine the post-closing balance in Retained Earnings. (Post entries in the order of journal entries presented in the previous part.) (To close revenue accounts) Dec. 31 income Summary Deprecistion Expense 12,410 Salaries and Wages Expense 85,360 Rent Expense \begin{tabular}{|r|} \hline 5,830 \\ \hline 1,320 \\ \hline \end{tabular} (To close expense accounts) Dec. 31 (To close net income to retained earnings) Dec. 31 (To close dividends to retained eamings) Prepare closing entries. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent monually. If no entry is required, select "No Entry" for the account titles and enter ofor the amounts.)
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