Multiple Choice
Which of the following is the correct closing entry for sales income of $30 000?
A) Debit sales income $30 000; credit equity $30 000
B) Debit profit or loss summary account $30 000; credit sales income $30 000
C) Debit equity $30 000; credit sales income $30 000
D) Debit sales income $30 000; credit profit or loss summary account $30 000
Correct Answer:
Verified
Correct Answer:
Verified
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