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describe the closing entries according to the exhibit, and give some examples Closing Process Revenues are Expenses are transferred to INCOME SUMMARY 1 transferred to

describe the closing entries according to the exhibit, and give some examples

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Closing Process Revenues are Expenses are transferred to INCOME SUMMARY 1 transferred to income summary income summary Net Income or Net Loss is transferred to Owner's Capital OWNER'S CAPITAL 1 Withdrawal are transferred to Owner's Capital P

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