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Question - The following accounts and normal balances existed at year-end. Make the four journal entries required to close the books.
Retained earnings $22,000
Dividends 6,000
Fees earned revenue 90,000
Selling expenses 45,000
Administrative expenses 16,000
Miscellaneous expense 2,300
Evaluate Method of measuring costs associated with production, budgeting process, normal job-order costing system , master budget, cycle time.
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