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Business, 06.03.2020 09:30 yqui8767

At year-end, ABC Company is beginning its closing process. Use the following account balances to demonstrate the closing of its revenue accounts. (Check all that apply.) Account Debit Credit Service Fees $15,000 Consulting Revenue $12,000 Supplies Expense $900 Rent Expense $600 Dividends $80 Debit Service Fees for $15,000. A debit to Income Summary for $27,000. Debit to Retained Earnings for $27,000. Credit Service Fees for $15,000. Debit to Consulting Revenue for $12,000. A credit to Income Summary for $27,000.

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At year-end, ABC Company is beginning its closing process. Use the following account balances to dem...
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