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Question 11 of 11 Current Attempt in Progress The following information is from the Income Statement of the Sarasota Rental Shop for the year ending October 31, 2025: Service Revenue Expenses Salaries and Wages Expense Rent Expense Depreciation Expense Miscellaneous Expense Total Expenses Net Income $3,400 4 1,800 2,700 340 $11,200 No. Account Titles and Explanation 8,240 $2,960 This is Sarasota's first year in business. Sarasota distributed dividends of $2,760 during the period. Prepare closing entries at December 31, 2025. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the text.) -/2 = : Debit Credit

The following information is from the Income Statement of the Sarasota Rental Shop for the year ending October 31, 2025: This is Sarasota's first year in business. Sarasota distributed dividends of \$2,760 during the period. Prepare closing entries at December 31, 2025. (List all debit entries before credit entries. Credit occount tities are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry' for the account titles and enter 0 for the amounts, Record journal entries in the nmier nresented in the text)

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