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Use This End-Of-Period Spreadsheet to Answer the Questions That Follow

Question 196

Multiple Choice

Use this end-of-period spreadsheet to answer the questions that follow.
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Use this end-of-period spreadsheet to answer the questions that follow. ​ ​ ​ -The entry to close the dividends account would be A) debit Retained Earnings, $3,000; credit Dividends, $3,000 B) debit Retained Earnings, $12,000; credit Dividends, $12,000 C) debit Dividends, $3,000; credit Retained Earnings, $3,000 D) debit Dividends, $12,000; credit Retained Earnings, $12,000 ​
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-The entry to close the dividends account would be


A) debit Retained Earnings, $3,000; credit Dividends, $3,000
B) debit Retained Earnings, $12,000; credit Dividends, $12,000
C) debit Dividends, $3,000; credit Retained Earnings, $3,000
D) debit Dividends, $12,000; credit Retained Earnings, $12,000

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