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need help determining the account titles as well as the debit/credit values that correspond given the informstion on top. thank you!! $53,000 4,000 $57,000 Sales
need help determining the account titles as well as the debit/credit values that correspond given the informstion on top. thank you!!
$53,000 4,000 $57,000 Sales revenue Interest revenue Total revenues Expenses Cost of goods sold Salaries and wages expense Interest expense Total expenses Net Income 30,000 18,000 1,500 49,500 $7,500 Prepare the entries to close the revenue and expense accounts at December 31, 2020. (Credit account entered. Do not indent manually.) Date Account Titles and Explanation Dec. 31 Debit Credit (To close revenue.) Dec. 31 (To close expense.) Step by Step Solution
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