CHAPTER 3

Accounts Receivable 600 Interest Revenue 10. Accumulated Depreciation 200 Notes Payable 200. Cash 400 Salaries Expense 700. Common Stock 800 Retained Earnings (1/1) 600. Cost of Goods Sold 500 Sales 950. Dividends 100 Salaries Payable 100. Prepare the closing entries needed on December 31, 2001. Date Account Titles and Explanations Debit Credit ... ................
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