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Magic Corporation Has the Following Normal Account Balances in Its

Question 18

Multiple Choice

Magic Corporation has the following normal account balances in its general ledger at the end of a period:
Sales revenue $ 1,060,000
Advertising expense 180,000
Which of the following gives the correct entry required to close only the accounts above?

A) Magic Corporation has the following normal account balances in its general ledger at the end of a period: Sales revenue $ 1,060,000 Advertising expense 180,000 Which of the following gives the correct entry required to close only the accounts above? A) B) C) D) None of the above. These accounts are not closed.
B) Magic Corporation has the following normal account balances in its general ledger at the end of a period: Sales revenue $ 1,060,000 Advertising expense 180,000 Which of the following gives the correct entry required to close only the accounts above? A) B) C) D) None of the above. These accounts are not closed.
C) Magic Corporation has the following normal account balances in its general ledger at the end of a period: Sales revenue $ 1,060,000 Advertising expense 180,000 Which of the following gives the correct entry required to close only the accounts above? A) B) C) D) None of the above. These accounts are not closed.
D) None of the above. These accounts are not closed.

Magic Corporation Has the Following Normal Account Balances in Its

Multiple Choice

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