After the closing entries are posted to the ledger,each revenue account will have
A) a zero balance.
B) a debit balance.
C) a credit balance.
D) either a debit or a credit balance.

Question

Quizplus · Accepted Answer

The purpose of closing entries is to transfer the balances of temporary accounts (such as revenue accounts) to the permanent account Retained Earnings. This results in a zero balance in the revenue accounts, as their balances have been transferred to a different account.

After the Closing Entries Are Posted to the Ledger,each Revenue