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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 and time to close the books. Journalize the following closing entries, with explanations, for Renee's Rice Treats:
a Service revenue, $
b A compound closing entry for all the expenses: Salaries, $; Rent, $; Advertising, $
c Income Summary
d Renee Kaufman, Withdrawals, $
tableAccountsDebit,Credit,aService Revenue,Income Summary,,
Next, record the closing entry for b A compound closing entry for all the expenses: Salaries, $; Rent, $; Advertising, $
tableAccounts,Debit,CreditbIncome Summary,,Salaries Expense,,Rent Expense,,
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