True/False
Each individual revenue account is credited when closing,and the total of all the revenue accounts is transferred to Income Summary.
Correct Answer:
Verified
Related Questions
Q69: Closing entries are found in the adjustment
Q79: When revenue is closed:
A)Owner's Capital will be
Q80: The entry to close the Fees Earned
Q81: _ Q84: Closing entries will update the Capital account Q86: _ Q87: Real accounts are those accounts with balances Q88: Each individual expense account is credited when Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents