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On Nov 30, 2016, the Zu company had the following account balance Assume the company has a balance of $150,000 on revenue and $145,000 on
On Nov 30, 2016, the Zu company had the following account balanceAssume the company has a balance of $150,000 on revenue and $145,000 on expense account, as well as $5000 on dividend account. During the month of December, the Zu company entered into the following transactions:
- Prepare general journal entries to record the preceding transactions
- Post to the general ledger accounts
- Prepare the income statement and balance sheet assuming the company is income tax exempt and all net income was retained in the business.
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