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Prepare the necessary closing entries

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Question - Presented below is information related to Gonzales Corporation for the month of January 2014.

Cost of goods sold $217,450 Salaries and wages expense $62,110

Delivery expense 8,070 Sales discounts 8,990

Insurance expense 14,810 Sales returns and allowances 14,300

Rent expense 21,440 Sales revenue 379,940

Prepare the necessary closing entries.

Reference no: EM131909838

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