Which of the following entries properly closes a temporary account? Select one: Ⓡ a. Income Summary XX Dividends b. Income Summary Service Revenue C. d. Debit Credit Income Summary Dividends xx Debit Credit xx Accumulated Depreciation XX Income Summary Cost of Goods Sold xx Debit Credit XX Debit Credit XX Debit Credit xxXx

Which of the following entries properly closes a temporary account? Select one: Ⓡ a. Income Summary XX Dividends b. Income Summary Service Revenue C. d. Debit Credit Income Summary Dividends xx Debit Credit xx Accumulated Depreciation XX Income Summary Cost of Goods Sold xx Debit Credit XX Debit Credit XX Debit Credit xxXx

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 1PA: Identify whether each of the following transactions, which are related to revenue recognition, are...

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