Record the entry to close the revenue accounts & Record the entry to close the...
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Accounting
Record the entry to close the revenue accounts & Record the entry to close the expense accounts. 
Presented below is income statement information of the Schefter Corporation for the year ended December 31, 2021 Required: Prepare the necessary closing entries at December 31, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Record the entry to close the revenue accounts & Record the entry to close the expense accounts.
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