Multiple Choice
The journal entry to close the Fees Earned, $750, and Rent Revenue, $175, accounts on December 31st during the closing process would be:
A) Dec. 31 Fees Earned 750 Rent Revenue 175
Income Summary 925
B) Dec. 31 Income Summary 925 Fees Earned 750
Rent Revenue 175
C) Dec. 31 Revenues 575 Income Summary 575
D) Dec. 31 Income Summary 925 Revenues 925
Correct Answer:
Verified
Correct Answer:
Verified
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