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Prepare the necessary closing entries based on the following selected accounts. Show the balance of the Owner's Capital account. Accumulated Depreciation $10,000 Depreciation Expense Owner's

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Prepare the necessary closing entries based on the following selected accounts. Show the balance of the Owner's Capital account. Accumulated Depreciation $10,000 Depreciation Expense Owner's Capital Owner's Drawings Salaries and Wages Expense 18,000 Service Revenue 7,000 20,000 12,000 31,000

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