The Retained Earnings account has a credit balance of $40,000 before closing entries are made. Total revenues

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The Retained Earnings account has a credit balance of $40,000 before closing entries are made. Total revenues for the period are $58,200, total expenses are $41,300 and dividends are $10,200.

What is the closing record for expense accounts?

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Financial Accounting A User Perspective

ISBN: 978-0470676608

6th Canadian Edition

Authors: Robert E Hoskin, Maureen R Fizzell, Donald C Cherry

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Posted Date: May 18, 2023 05:24 AM

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The Retained Earnings account has a credit balance of $40,000 before closing entries are made. Total revenues

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