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Prepare the necessary closing entries

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Question - Presented below is information related to Headland Corporation for the month of January 2017.

Cost of goods sold $222,140

Salaries and wages expense $58,680

Delivery expense 6,740

Sales discounts 7,790

Insurance expense 11,820

Sales returns and allowances 13,410

Rent expense 19,400

Sales revenue 359,700

Prepare the necessary closing entries.

Reference no: EM131663473

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