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It is December 31, 2020, and time to close the books. Joumalize the following closing entries, with explanations, for Renee's Rice Treats: a. Service revenue,
It is December 31, 2020, and time to close the books. Joumalize the following closing entries, with explanations, for Renee's Rice Treats: a. Service revenue, $33,000 b. A compound closing entry for all the expenses: Salaries, $3,500; Rent, $2,200; Advertising, $2,900 c. Income Summary d. Renee Chen, Withdrawals, $3,200 . Begin by journalizing the closing entry for a. Service revenue, $33,000. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journal Entry Accounts Debit Credit a
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