In which of the following types of accounts are increases recorded by credits? A. revenues and liabilities B. drawing and assets C. expenses and liabilities
In which of the following types of accounts are increases recorded by credits? A. revenues and liabilities B. drawing and assets C. expenses and liabilities
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter5: Closing Entries And The Post-closing Trial Balance
Section: Chapter Questions
Problem 5DQ: What is the purpose of the Income Summary account? How does it relate to the revenue and expense...
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In which of the following types of accounts are increases recorded by credits?
A. revenues and liabilities
B. drawing and assets
C. expenses and liabilities
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