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Please help. The three pictures are he same question just different closing entries. Presented below is income statement information of the Nebraska Corporation for the
Please help. The three pictures are he same question just different closing entries.
Presented below is income statement information of the Nebraska Corporation for the year ended December 31, 2018. Sales revenue Salaries expense Dividend revenue Miscellaneous expense Loss on sale of investments $620,000 Cost of goods sold 90,000 Insurance expense 355,000 20,000 18,000 35,000 10,000 3,000 Depreciation expense 12,000 Income tax expense 8,000 Rent expense Required Prepare the necessary closing entries at December 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 Record the entry to close the revenue and losses using the income summary. Note: Enter debits before credits K Prev 2 of 5 lE Next > Step by Step Solution
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