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QUESTION
The F. Mercury, Capital account has a credit balance of $46,000 before closing entries are made. Total revenues for the period are $64,200, total...
The F. Mercury, Capital account has a credit balance of $46,000 before closing entries are made. Total revenues for the period are $64,200, total expenses are $44,300, and withdrawals are $12,600. What is the correct closing entry for the revenue accounts?
