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How do prepare the entry to close net income

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Reference no: EM132615244

Question 1: At December 31, Bridgeport Corporation reports net income of $403,600. How do prepare the entry to close net income? Explain in detail.

Reference no: EM132615244

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How do prepare the entry to close net income : At December 31, Bridgeport Corporation reports net income of $403,600. How do prepare the entry to close net income? Explain in detail.
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