Multiple Choice
The closing entries show a debit to Retained Earnings of $350, and a credit to Retained Earnings of $760. There was also a credit to Dividends Payable of $120. This company had a:
A) net loss of $410.
B) net income of $410.
C) net loss of $530.
D) net income of $530.
Correct Answer:
Verified
Correct Answer:
Verified
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