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Provide the closing entries

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Reference no: EM133188255

Question - ABB company has the below information in its Income Statement at the end of the year 2021. For recording the closing entries, Income Summary account is created and used.

Salaries Expenses $34,800

Utilities Expenses $8,500

Depreciation Expense $4,500

Owner's drawings $3,000

Owner's capital $105,000

Service revenue $345,600

Based on the above information, provide the closing entries.

Reference no: EM133188255

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