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Prepare the year-end closing entries

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Reference no: EM132480889

Ivanhoe has year-end account balances of

Sales Revenue $822,958,

Interest Revenue $12,180,

Cost of Goods Sold $509,030,

Administrative Expenses $183,720,

Income Tax Expense $36,026, and

Dividends $18,372

Question 1: Prepare the year-end closing entries

Reference no: EM132480889

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