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  1. business
  2. accounting
  3. prepare all closing entries for the following busi

PREPARE ALL CLOSING ENTRIES FOR THE FOLLOWING BUSINESS EITHER ABOVE THE INCOME STATEMENT PROVIDED OR...

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Accounting

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PREPARE ALL CLOSING ENTRIES FOR THE FOLLOWING BUSINESS EITHER ABOVE THE INCOME STATEMENT PROVIDED OR BELOW SAME

Dress Right Clothing Corporation Income Statement For the Year Ended July 31, 2021 $ Sales Revenue Cost of Goods Sold Gross Profit 38,500 22.000 16,500 $ $ Operating Expenses: Salaries Expense Supplies Expense Rent Expense Depreciation Expense Total Operating Expenses 10,500 800 2,000 200 $ 13,500 $ 3,000 Net Operating Income Other Income (Expense): Rent Revenue Interest Expense $ 250 (333) $ (83) $ 2,917 Net Income Before Income Taxes Income Tax Expense $ 2.917 Net Income

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