Question: Below is a list of accounts with corresponding ending balances. Prepare one summary entry to close those accounts that should be closed at the end

Below is a list of accounts with corresponding ending balances.

Prepare one summary entry to close those accounts that should be closed at the end of theyear.

Account Account Balance Account Account Balance S2,300 1,000 a. Prepaid Insurance b. Cash c. Sales Revenue d. Retained Earnings S3,200 1,650 5,500 4,100 e. Accounts Payable f. Capital Stock g. Interest Revenue 100

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