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Prepare all the necessary closing journal entries to be made

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The accounts below are taken from the adjusted trail balance column of Audrey Retail Business on 30th of June 2021.

Prepaid Rent $20,000

Office Supplies $50,000

Brandon's, Capital $200,000

Brandon's, Drawing $25,000

Office Expenses $40,000

Depreciation Expense $15,000

Salary Expense $60,000

Sales Revenue $180,000

Interest income $30,000

Required:

Problem 1: Prepare all the necessary closing journal entries to be made on 30th of June 2021. Narrations are required for each journal entry.

Reference no: EM133005889

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