Business, 28.08.2020 18:01, AutumnJoy12

The year-end adjusted trial balance of the Timmons Tool and Die Corporation included the following account balances: retained earnings, $310,000; dividends, $48,000; sales revenue, $970,000; cost of goods sold, $670,000; salaries expense, $150,000; rent expense, $47,000; and interest expense, $21,000. Prepare the necessary closing entries.

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The year-end adjusted trial balance of the Timmons Tool and Die Corporation included the following a...