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Prepare a closing journal entry for The adjusted trial balance for Myopia Corp. appears below....

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Accounting

Prepare a closing journal entry for The adjusted trial balance for Myopia Corp. appears below.
Debit Credit
Cash 50
Accounts Receivable 40
Inventory 30
Buildings 600
Accumulated Depreciation: buildings 20
Accounts Payable 10
Common Stock 100
Retained Earnings 120
Dividends 80
Sales Revenue 950
Sales Discounts 10
Sales Returns and Allowances 30
Cost of Goods Sold 60
Rent Expense 100
Salary Expense 200
$1,200 $1,200Cash
Accounts Receivable
Inventory
Buildings
Accumulated Depreciation: buildings
Accounts Payable
Common Stock
Retained Earnings
Dividends
Sales Revenue
Sales Discounts
Sales Returns and Allowances
Cost of Goods Sold
Rent Expense
Salary Expense
INSTRUCTIONS: Using the information given, prepare the year end closing journal entries.
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