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End of the year records for a business show: Sale 50,000 Cost of sales 20,000 Selling expenses 4000 Revenue received in advance 7000 Depreciation exoense

End of the year records for a business show:

Sale 50,000

Cost of sales 20,000

Selling expenses 4000

Revenue received in advance 7000

Depreciation exoense 8000

Discount received 2500

Discount allowed 2800

Rent revenue 6500

Selling expenses 42

During the closing process the credit to profir ot loss summary account would be??

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