The journal entry to close the Fees Earned, $120, and Rent Revenue, $22, accounts during the year-end closing process would involve: a. debits to the two revenue accounts Ob. a debit to a general revenue account Oc. credits to the two revenue accounts Od. a credit to a general revenue account

The journal entry to close the Fees Earned, $120, and Rent Revenue, $22, accounts during the year-end closing process would involve: a. debits to the two revenue accounts Ob. a debit to a general revenue account Oc. credits to the two revenue accounts Od. a credit to a general revenue account

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter16: Accounting For Accounts Receivable

Section: Chapter Questions

Problem 8SPA: UNCOLLECTIBLE ACCOUNTSALLOWANCE METHOD Pyle Nurseries used the allowance method to record the...

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Question

The journal entry to close the Fees Earned, $120, and Rent Revenue, $22, accounts during the year-end closing process would involve:
Oa. debits to the two revenue accounts
Ob. a debit to a general revenue account
C. credits to the two revenue accounts
d. a credit to a general revenue account
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