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Prepare Closing Entries to Retained Earnings The Century Company's adjusted trial balance contains the following balances as of December 31: Retained Earnings $25,500: Dividends

Prepare Closing Entries to Retained Earnings The Century Company's adjusted trial balance contains the The balance of $25,500 in the retained earnings account is from the beginning of the year. What is the ending

Prepare Closing Entries to Retained Earnings The Century Company's adjusted trial balance contains the following balances as of December 31: Retained Earnings $25,500: Dividends $6,000; Sales $60,000; Cost of Goods Sold $24,000; Selling and Administrative Expenses $9,000; Interest Expense $4,500. Prepare the closing entries for The Century Company. Close the temporary accounts straight to retained earnings. General Journal Description To close the revenue account : To close the dividends account. C Cost of goods sold Selling and administrative expense 0 To close the expense accounts. : 4 Debit 0 0 OO 0 0 0 0 0 OO 0 Credit 0 0 0 0 0 0 0 The balance of $25,500 in the retained earnings account is from the beginning of the year. What is the ending retained earnings balance after posting the closing entries? I 50 Check

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