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The ledger of Duston Company contains the following balances: Owners Capital $31,800; Owners Drawings $1,200; Service Revenue $50,000; Salaries and Wages Expense $27,000; and Supplies

The ledger of Duston Company contains the following balances: Owners Capital $31,800; Owners Drawings $1,200; Service Revenue $50,000; Salaries and Wages Expense $27,000; and Supplies Expense $6,700. Prepare the closing entries at December 31.

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