Question: Question 1 6 The closing entry for the Salaries Expense account includes a debit to: Net Income and a credit to Salaries Expense. Salaries Expense
Question
The closing entry for the Salaries Expense account includes a debit to:
Net Income and a credit to Salaries Expense.
Salaries Expense and a credit to Retained Earnings.
Retained Earnings and a credit to Salaries Expense.
Salaries Expense and a credit to Net Income.
None of the above.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
