Multiple Choice
The entry to close revenue accounts involves
A) a debit to Income Summary and credits to all the revenue accounts.
B) debits to all the revenue accounts and a credit to Income Summary.
C) debits to all the expense accounts and credits to all the revenue accounts.
D) a debit to Retained Earnings and a credit to Income Summary.
E) a debit to Income Summary and a credit to Retained Earnings.
Correct Answer:
Verified
Correct Answer:
Verified
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