12 Prepare the entries to close the net income summary to retained earnings. O Retained Earnings 35,000 Income Summary 35,000 O Income Summary 35,000 Retained Earnings 35,000 Account receivable 38,000 Retained Earnings 38,000 O Income Summary 18,000 Retained Earnings 18,000

12 Prepare the entries to close the net income summary to retained earnings. O Retained Earnings 35,000 Income Summary 35,000 O Income Summary 35,000 Retained Earnings 35,000 Account receivable 38,000 Retained Earnings 38,000 O Income Summary 18,000 Retained Earnings 18,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 5E: Multiple-Step and Single-Step In coin Statements The following items were derived from Gold...

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