Question
The Retained Earnings account has a credit balance of $46,000 before closing entries are made. Total revenues for the period are $64,200, total expenses are
| The Retained Earnings account has a credit balance of $46,000 before closing entries are made. Total revenues for the period are $64,200, total expenses are $44,300, and dividends are $12,600. What is the correct closing entry for the expense accounts? |
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Financial Accounting
Authors: Walter B. Meigs, Robert F. Meigs, Mark Bettner, Ray Whittington
9th Edition
0070434360, 978-0070434363
