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Service revenue 50000 salaries and wages expense 27000 and

Question - The ledger of Rios Company contains the following balances: Owners Capital $30,000; Owner's drawings $2,000; Service revenue $50,000; salaries and wages expense $27,000 and supplies expense $7,000. Prepare the closing entries at December 31.

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Accounting Basics: Service revenue 50000 salaries and wages expense 27000 and

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