Problem

The following account balances were taken from Cal Tour Corporation’s year-end adjusted tr...

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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