Which of the following accounts is credited when closed?
A)Unearned Ticket Revenue
B)Wages Payable
C)L.Larson, Capital
D)Wages Expense
E)Sales

Name: Which of the following accounts is credited when closed? A)Unearned Ticket Revenue B)Wages Payable C)L.Larson, Capital D)Wages Expense E)Sales
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Question

Quizplus · Accepted Answer

Wages Expense is a temporary account that is closed at the end of the accounting period by crediting it to transfer its balance to the Income Summary account.

Which of the Following Accounts Is Credited When Closed