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t is December 3 1 , 2 0 2 3 , and time to close the books. Journalize the following closing entries, with explanations, for

t is December 31,2023, and time to close the books. Journalize the following closing entries, with explanations, for Renee's Rice Treats:
a. Service revenue, $23,000
b. A compound closing entry for all the expenses: Salaries, $3,900; Rent, $3,400; Advertising, $2,700
c. Income Summary
d. Renee Kaufman, Withdrawals, $4,600
\table[[Accounts,Debit,Credit,],[a.,Service Revenue,23,000,],[Income Summary,,23,000,],[,,,]]
Next, record the closing entry for b. A compound closing entry for all the expenses: Salaries, $3,900; Rent, $3,400; Advertising, $2,700.
\table[[,Accounts,Debit,Credit],[b.,Income Summary,,],[Salaries Expense,,],[grad,,],[Rent Expense,,]]
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