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Accounting
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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
Transcribed Image Text: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
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