During 2015,Lee Corporation reported revenues of $527,000 and expenses of $330,000,and declared cash dividends of $45,000.Retained Earnings on January 1,2015 was $168,000.
1.Prepare closing entries at December 31,2015.
2.Calculate the balance in Retained Earnings on December 31,2015.

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The Answer of During 2015,Lee Corporation reported revenues of $527,000 and expenses of $330,000,and declared cash dividends of $45,000.Retained Earnings on January 1,2015 was $168,000.
1.Prepare closing entries at December 31,2015.
2.Calculate the balance in Retained Earnings on December 31,2015.

During 2015,Lee Corporation Reported Revenues of $527,000 and Expenses of $330,000,and