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Bonita has year-end account balances of sales revenue

Question - Bonita has year-end account balances of Sales Revenue $841,310, Interest Revenue $14,260, Cost of Goods Sold $531,407, Administrative Expenses $181,980, Income Tax Expense $37,617, and Dividends $18,198. Prepare the year-end closing entries.

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Accounting Basics: Bonita has year-end account balances of sales revenue

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