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E4-21 Identifying and journalizing closing entries [10-15 min]
The accountant for Klein Photography has posted adjusting entries (a)–(e) to the following
selected accounts at December 31, 2012.
Requirements
1. Journalize Klein Photography’s closing entries at December 31, 2012.
2. Determine Klein Photography’s ending Retained earnings balance at
December 31, 2012.
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