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    Exam 4: Completing the Accounting Cycle
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    Price Company Earned Net Income of $43,000 During 2010
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Price Company Earned Net Income of $43,000 During 2010

Question 104

Question 104

Essay

Price Company earned net income of $43,000 during 2010. The company had owner drawings totalling $30,000 during the period. Prepare the entries to close Income Summary and the Price, Drawing account.

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