Prepare and journalize the entry required to close the flyer

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Reference no: EM132476892

point 1: Assume that the entry closing total revenues of $3190000 and total expenses of $2350000 has been made for the year. At the end of the fiscal year, Teresa Shaffer, capital has a credit balance of $1885000 and Teresa shafer , Drawing has a balance of $770000.

Question 1: Prepare and journalize the entry required to close the flyer esa shafer, drawing account

Reference no: EM132476892

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