Principles of Accounting Volume 1

19th Edition

ISBN: 9781947172685

Author: OpenStax

Publisher: OpenStax College

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Textbook Question

100%

Chapter 5, Problem 4MC

If a journal entry includes a debit or credit to the Retained Earnings account, it is most likely which of the following?

A. a closing entry

B. an adjusting entry

C. an ordinary transaction entry

D. outside of the accounting cycle

Expert Solution & Answer

Chapter 5 Solutions

Principles of Accounting Volume 1

Ch. 5 - Which of the following accounts is considered a...Ch. 5 - Which of the following accounts is considered a...Ch. 5 - If a journal entry includes a debit or credit to...Ch. 5 - If a journal entry includes a debit or credit to...Ch. 5 - Which of these accounts would be present in the...Ch. 5 - Which of these accounts would not be present in...Ch. 5 - Which of these accounts is never closed? A....Ch. 5 - Which of these accounts is never closed? A....Ch. 5 - Which account would be credited when closing the...Ch. 5 - Which account would be credited when closing the...

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