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pls help The ledger of Ivanhoe Company contains the following balances: Owner's Capital $31,800, Owner's Drawings $1,800, Service Revenue $50,000, Salaries and Wages Expense $25,600,
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The ledger of Ivanhoe Company contains the following balances: Owner's Capital $31,800, Owner's Drawings $1,800, Service Revenue $50,000, Salaries and Wages Expense $25,600, and Supplies Expense $6,300 Prepare the closing entries at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 (To close revenue account) Dec 31 (To close expense accounts) Dec 31 (To close net income) (foss)) Dec. 31 (To close expense accounts) Dec 31 (To close net income/ (loss)) Dec 31 (To close drawings) Step by Step Solution
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