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Prepare a closing entry for drawing account

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Question 1: On December 31, 2019, the ledger of Lopez Company contained the following account balances:

604_accounting balance.png

Prepare a closing entry for the above transaction

Question 1: Prepare a closing entry for drawing account

Question 2: Prepare a closing entry for balance of income summary

Question 3: Prepare a closing entry for expense

Question 4: Prepare a closing entry for revenue

Reference no: EM132436369

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