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The following selected accounts and balances appear on the adjusted trial balance for Sparkle Inc on

The following selected accounts and balances appear on the adjusted trial balance for Sparkle, Inc., on July 31, 2012: Service Revenue ........................................ $ 1,900 Rent Expense............................................. 925 Salaries Expense........................................ 450 Dividends................................................... 200 Common Stock.......................................... 21,000 Retained Earnings...................................... 11,000 1. What is the net income or net loss? 2. What is the change in Retained Earnings? 3. Journalize the closing entries required.

May 17 2020 View more View Less

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