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Novak company and its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year as shown
Novak company and its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year as shown below.
Post to the Retained Earnings and Income Summary accounts. (Post entries in the order of journal entries presented in the previous part. Enter negative amounts using either a negative sign preceding the number eg- 45 or parentheses e.3. (45).) Post-Closing Trlal Balance Debit Credit $ $ Date Account Titles and Explanation Debit Credit July 31 (To close revenue accounts) July 31 (To close expense accounts) July 31 (To close net income / (loss)) July 31 (To close dividends) Step by Step Solution
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