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Required: Based on the following information: Prepare the closing entries for June for Betty Barnes Bakery. Betty Barnes Bakery began business on June 1 st

Required: Based on the following information:
Prepare the closing entries for June for Betty Barnes Bakery.
Betty Barnes Bakery began business on June 1st.
Withdrawals $40,000
Revenue $100,000
Salary expense $20,000
Rent expense $10,000

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