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    Exam 5: Accounting for Merchandising Operations
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    The Income Statement for Guinn Company for the Year Ended
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The Income Statement for Guinn Company for the Year Ended

Question 209

Question 209

Essay

The income statement for Guinn Company for the year ended December 31, 2010 is as follows:
Prepare the entries to close the revenue and expense accounts at December 31, 2010. You may omit explanations for the transactions.

Correct Answer:

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