Holland Enterprises reports the following balances as part of the closing process: Dividends (debit): $12,000...
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Accounting
Holland Enterprises reports the following balances as part of the closing process: Dividends (debit): $12,000 Income Summary (debit): $220,000 Income Summary (credit): $245,000 Retained Earnings (credit): $108,000 What additional entry will be made as part of the closing process? O Debit Retained Earnings and credit income summary for $108,000 O Debit Income Summary and credit dividends for $12,000 O Debit Retained Earnings and credit Income Summary for $25,000 O Debit Income Summary and Credit Retained Earnings for $25,000
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