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Swifty Corporation reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, February 28, 2021: Accounts payable
Swifty Corporation reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, February 28, 2021: Accounts payable 12,600 Income tax payable $ 4,300 Accounts receivable 27,900 Insurance expense 3,300 Accumulated depreciation-equipment 5,400 Prepaid insurance 2,900 Cash 17,700 Rent expense 6,300 Common shares 19,800 Retained earnings 21,300 Depreciation expense 4,300 Salaries expense 45,700 Dividends declared 2,100 Salaries payable 3,100 Equipment 23,000 Supplies 900 Fees earned 91,200 Supplies expense 4,000 Income tax expense 4,600 Utilities expense 2,300 Prepare the closing journal entries. (List all debit entries before credit entries. Credit account tittles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
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