Question: Closing Entries with Net Loss Summit Services Co . offers its services to individuals desiring to improve their personal images. After the accounts have been

Closing Entries with Net Loss Summit Services Co. offers its services

Closing Entries with Net Loss
Summit Services Co. offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted at May 31, the end of the fiscal year, the following balances were taken from the ledger of Summit Services:
\table[[Fees Earned,$198,000
to individuals desiring to improve their personal images. After the accounts have

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