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The ledger of Duston Company contains the following balances: Owners Capital $30,000, Owners Drawings $2,000, Service Revenue $50,000, Salaries and Wages Expense $29,000, and Supplies

The ledger of Duston Company contains the following balances: Owners Capital $30,000, Owners Drawings $2,000, Service Revenue $50,000, Salaries and Wages Expense $29,000, and Supplies Expense $7,000. Prepare the closing entries at December 31.

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