Question: MESSAGE HY INSTRUCTOR FULL SCREEN BACK NEXT Skysong, Inc. has the following year-end account balances: Sales Revenue $928,500; Interest Income $17,700; Cost of Goods Sold
MESSAGE HY INSTRUCTOR FULL SCREEN BACK NEXT Skysong, Inc. has the following year-end account balances: Sales Revenue $928,500; Interest Income $17,700; Cost of Goods Sold $388,500; Operating Expenses $128,500; Income Tax Expense $56,700; and Dividends $14,700. Prepare the year-end closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit (To dose revenue accounts.) (Todose expense accounts.) (Todose net income.)
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