Question: what will be the balance credit? $4800 Multiple Choice Question 253 The following information is from the Income Statement of Marigold's Lawn Service for the

what will be the balance credit?
what will be the balance credit? $4800 Multiple Choice Question 253 The

$4800 Multiple Choice Question 253 The following information is from the Income Statement of Marigold's Lawn Service for the quarter ending September 2022 Service Revenue Expenses Salaries and Wages expense 52100 Supplies expense Insurance expense Total expenses Net Income The balance in Retained Earnings at July 1 was $3000. Marigold's distributed dividends of $3500 during the period. Prior to closing Income Summary, the account will have a balance of O O O O $2360 credit $2120 credit $2120 debit. $3500 debit Click if you would like to Show Work for this question: Question Attempts of 1 used

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!