Identifying and journalizing closing entries [10-15 min]The accountant for Klein Photograp...

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.

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2. Determine Klein Photography’s ending Retained earnings balance at December 31, 2012.