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Acct Hw 3 - D Balances are zero because they are temporary...

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Joe Black 2-25: B) Ending balance of R/E = 21,400. N/I = 19,590 2-29: B) Salary, utilities, and rent should be closed to the retained earnings account.
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Unformatted text preview: D) Balances are zero because they are temporary accounts and are closed out at the end of the year....
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