Spicer Inc. showed the following alphabetized list of adjusted account balances at December 31, 2023...
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Accounting
Spicer Inc. showed the following alphabetized list of adjusted account balances at December 31, 2023 . The company uses an income summary account in the closing process. 1 Record to close the revenue account to the income summary. 2 Record to close the expense accounts to the income summary. 3 Record to close the income summary to retained earnings. 4 Record to close the Cash Dividends account to Retained Earnings. 2 Calculate the post-closing balance in Retained Earnings at December 31, 2023. (Amounts to be deducted should be indicated by a minus sign.)
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