The correct closing entry for sales income of $60 000 is: DR Sales income $60 000;
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Question:
The correct closing entry for sales income of $60 000 is:
- DR Sales income $60 000; CR Capital $60 000
- DR Sales income $60 000; CR Profit or loss summary account $60 000
- DR Profit or loss summary account $60000; CR Sales income $60 000
- DR Capital $60 000; CR Sales income $60 000
Related Book For
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
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