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Use the following income statement for the year 2021 for Belle Company to prepare entries to close the revenue and expense accounts for the company.
Service revenue $85,000
Expenses:
Salaries and Wages Expense $40,000
Rent Expense 12,500
Advertising Expense 8,700
Total expenses 61,200
Net income (loss) $23,800
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Use the following income statement for the year 2021 for Belle Company to prepare entries to close t...
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