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Prepare the necessary closing entry for drawings

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Reference no: EM133178344

Question - The ledger of Rashid Travel Agency includes the following accounts with normal balances on December 31, 2020: Rashid, Capital BD25,000; Drawings BD3,200; Fees Earned BD4,000; Ticket Revenues BD16,000; General Expense BD24,600.

Required - Prepare the necessary closing entry for drawings from the available information on December 31, 2020.

Reference no: EM133178344

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