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Question 1 3 pts When closing entries are performed, Salaries Expense reduces Retained Earnings. True False Question 2 3 pts Prepaid Rent is an expense.

Question 1 3 pts When closing entries are performed, Salaries Expense reduces Retained Earnings. True False Question 2 3 pts Prepaid Rent is an expense. True O False Question 3 3 pts Deferred Revenue is a liability

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