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undefined A company has the following account balances. They are now doing their closing entries. This company uses an income summary account to close the
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A company has the following account balances. They are now doing their closing entries. This company uses an income summary account to close the accounts, then income summary gets closed into retained earnings. After the closing process is complete, what is the balance of ending retained earnings? (you should assume that the balances given are the "normal" balances for the account - as far as whether the amount listed is a debit or credit). Supplies Expense 3,119 Service Revenue 55,227 Accounts Payable 7,392 Salaries Expense 11,728 Dividends 1,902 Equipment 50,918 Accumulated 20,985 Depreciation Depreciation Expense 3,471 Retained Earnings 104,024Step by Step Solution
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