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It is December 31, 2020, and time to close the books. Journalize the following closing entries, with explanations, for Renee's Rice Treats: a. Service

It is December 31, 2020, and time to close the books. Journalize the following closing entries, with explanations, for Renee's Rice Treats: a. Service revenue, $15,000 b. A compound closing entry for all the expenses: Salaries, $4,700, Rent, $3,800, Advertising, $2,500 c. Income Summary d. Renee Kilroy, Withdrawals, $5,000

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