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American chip corporation's fiscal year end is december 31

28/04/2021 Client: muhammad11 Deadline: 2 Day

American Chip Corporation’s reporting year-end is December 31. The following is a partial adjusted trial balance as of December 31, 2021.

Account Title Credits Debits 80,000 Retained earnings Sales revenue 750,000 3,000 Interest revenue Cost of goods sold 42

Required:
Prepare the necessary closing entries at December 31, 2021.

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