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Prepare the company necessary closing entries

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Question - The following account balances were taken from Long Tail Consulting's year-end adjusted trial balance (assume these are the company's only temporary accounts).

Consulting fees earned $320,000

Interest revenue 4,000

Insurance expense 18,000

Rent expense 60,000

Depreciation expense: office equipment 36,000

Salaries expense 220,000

Dividends 9,000

Required - Prepare the company's necessary closing entries.

Reference no: EM133156583

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