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The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31, 2019:
The following selected accounts and their current balances appear in
Selected accounts and related amounts for Clairemont Co. for the fiscal year ended May 31, 2019, are presented in Problem 6-5A.
Instructions
1. Prepare a single-step income statement in the format shown in Exhibit 12.
2. Prepare closing entries as of May 31, 2019.
Exhibit 12: Single-Step Income Statement
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