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  2. Prepare and post the closing entries. Record the closing entries on Page 23 of the journal. Indicate closed accounts by inserting a line in both Balance columns opposite the closing entry. Insert the new balance in the owner’s capital account.

Prepare and post the closing entries. Record the closing entries on Page 23 of the journal. Indicate closed accounts by inserting a line in both Balance columns opposite the closing entry. Insert the new balance in the owner’s capital account.

Posted by:Shadrack Posted on:Apr 18,2022
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Accounting for Merchandising Businesses: 6-9i Comprehensive Problem 2 Palisade Creek Co. is a merchandising business that uses the
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