Vaughn has year-end account balances of Sales Revenue $841,310, Interest Revenue $14,260, Cost of Goods Sold $531,407, Administrative Expenses $181,980, Income Tax Expense $37,617, and Dividends $18,198. Prepare the year-end closing entries.
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A service that is rarely provided, unusual, variable, or new may require this type of report to assist in the determination of the medical appropriateness of a service and indicates the nature, extent, need, time, effort, and equipment necessary.
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