The entry to close the utilities expense account at year end would include a: credit to...
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The entry to close the utilities expense account at year end would include a: credit to retained earnings credit to utilities expense utilities expense is not closed out at year end, so not entry is made credit to utilities payable The entry to close the utilities expense account at year end would include a: credit to retained earnings credit to utilities expense utilities expense is not closed out at year end, so not entry is made credit to utilities payable
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A credit to retained earnings The normal balance in the retained earnings account is a credit This ... View the full answer
Related Book For
Accounting
ISBN: 978-0324188004
21st Edition
Authors: Carl s. warren, James m. reeve, Philip e. fess
Posted Date:
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