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Evans Company had the following adjusted trial balance: Credit Debit $21,310 15,650 7,650 38,600 $8,900 Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts

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Evans Company had the following adjusted trial balance: Credit Debit $21,310 15,650 7,650 38,600 $8,900 Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue Capital Stock Retained Earnings Dividends Commission Revenue Rent Revenue Depreciation Expense Utilities Expense Supplies Expense 3,110 1,780 16,620 20,800 14,600 59,500 6,800 6,100 8,600 5,000 $117,510 Total $117,510 The president of Evans Company has asked you to close the books (prepare and process the closing entries). Required The president of Evans Company has asked you to close the books (prepare and process the closing entries). Required: After the closing process has been completed, answer the following questions: During the closing process, what amount was transferred from the income Summary account to the Retained Eaminos account in the third closing entry (le, after revenue and expense accounts have been closed to Income Summary) What is the balance in the Retained Earnings account? What is the balance in the dividends account? SO so

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