What are closing entries? Describe how (a) revenue accounts, (b) expense accounts and (c) the withdrawals account
Question:
What are closing entries? Describe how
(a) revenue accounts,
(b) expense accounts and
(c) the withdrawals account are closed.
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In accounting the debit and credit rules dictate how transactions are recorded in the general ledger ...View the full answer
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Related Book For
Accounting Information For Business Decisions
ISBN: 9780170253703
2nd Edition
Authors: Billie Cunningham, Loren A. Nikolai, John Bazley, Marie Kavanagh, Geoff Slaughter, Sharelle Simmons
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