The following account balances were taken from Cal Tour Corporation’s year-end adjusted trial balance (assume these are the company’s only temporary accounts):
Dividends | $ 600 |
Service revenue | 19,800 |
Supplies expense | 525 |
Rent expense | 3,660 |
Depreciation expense: equipment | 1,200 |
Salaries expense | 12,700 |
Income taxes expense | 615 |
Prepare the company’s necessary closing entries.
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