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Refer to the adjusted trial balance of Green Lawns, Inc., illustrated in L Exercise 5.2...

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Accounting

Refer to the adjusted trial balance of Green Lawns, Inc., illustrated in L Exercise 5.2 to respond to the following items. Page 226 a. Prepare all necessary closing entries at December 31, current year. b. Prepare an after-closing trial balance dated December 31, current year. c. Compare the Retained Earnings balance reported in the after-closing trial balance prepared in part b to the balance reported in the adjusted trial balance. Explain why the two balances are different. (Include in your explanation why the balance reported in the after-closing trial balance has increased or decreased subsequent to the closing process.)

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