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Prepare the Necessary Closing Entries Based on the Following Selected

question 69

Essay

Prepare the necessary closing entries based on the following selected accounts.  Accumulated Depreciation $10,000 Depreciation Expense 6,000 Owner’s Capital 20,000 Owner’s Drawings 9,000 Salaries and Wages Expense 19,000 Service Revenue 40,000\begin{array}{lr}\text { Accumulated Depreciation } & \$ 10,000 \\\text { Depreciation Expense } & 6,000 \\\text { Owner's Capital } & 20,000 \\\text { Owner's Drawings } & 9,000 \\\text { Salaries and Wages Expense } & 19,000 \\\text { Service Revenue } & 40,000\end{array}

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