ABC Company had the following account balances at December 31, 2019: $128,000 8,200 1,500 3,500 700...
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ABC Company had the following account balances at December 31, 2019: $128,000 8,200 1,500 3,500 700 Sales Revenue Accounts Receivable Accounts Payable Rent Expense Unearned Revenue Depreciation Expense Salaries Expense Salaries Payable Retained Earnings, Jan. 1, 2019 10,000 18,500 800 10,000 4,000 2,600 46,200 Dividends Advertising Expense Cost of Goods Sold The entry to close the Income Summary account would include a debit for: A. $93,400 B. $47,200 OC.S57,200 D. $43,200 E. $37,200 ABC Company had the following account balances at December 31, 2019: $128,000 8,200 1,500 3,500 700 Sales Revenue Accounts Receivable Accounts Payable Rent Expense Unearned Revenue Depreciation Expense Salaries Expense Salaries Payable Retained Earnings, Jan. 1, 2019 10,000 18,500 800 10,000 4,000 2,600 46,200 Dividends Advertising Expense Cost of Goods Sold The entry to close the Income Summary account would include a debit for: A. $93,400 B. $47,200 OC.S57,200 D. $43,200 E. $37,200
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Option B 47200 Company Closing Journal entries Date Account Debit Credit Calcul... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0470423684
13th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
Posted Date:
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