Prepare the necessary closing entries

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Reference no: EM131814275

Question: The year-end adjusted trial balance of Factory Lines, Inc. included the following account balances:

retained earnings $290,000;

sales revenue $935,000;

cost of goods sold $630,000;

salaries expenses $180,000;

rent expense $43,000; and

interest expense $29,000.

Prepare the necessary closing entries.

Reference no: EM131814275

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