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Seminoles Corporations fiscal year-end is December 31, 2018. The following is a partial adjusted trial balance as of December 31. Accounts Debit Credit Retained Earnings
Seminoles Corporations fiscal year-end is December 31, 2018. The following is a partial adjusted trial balance as of December 31.
Accounts | Debit | Credit | ||||
Retained Earnings | $ | 22,000 | ||||
Dividends | $ | 2,200 | ||||
Service Revenue | 42,000 | |||||
Interest Revenue | 5,200 | |||||
Salaries Expense | 14,200 | |||||
Rent Expense | 5,200 | |||||
Advertising Expense | 2,200 | |||||
Depreciation Expense | 10,200 | |||||
Interest Expense | 4,200 | |||||
|
Required:
1. Prepare the necessary closing entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 2. Calculate the ending balance of Retained Earnings.
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