The following information is from the Income Statement of the Campus Laundry Service: The entry to close the Service Revenue account includes a:
A)debit to Service Revenue for $6,500.
B)credit to Service Revenue for $6,500.
C)debit to Income Summary for $6,500.
D)debit to Retained Earnings for $6,500.

Question

The following information is from the Income Statement of the Campus Laundry Service:  The entry to close the Service Revenue account includes a:
A)debit to Service Revenue for $6,500. 
B)credit to Service Revenue for $6,500. 
C)debit to Income Summary for $6,500. 
D)debit to Retained Earnings for $6,500.

Quizplus · Accepted Answer

The Answer of The following information is from the Income Statement of the Campus Laundry Service:  The entry to close the Service Revenue account includes a:
A)debit to Service Revenue for $6,500. 
B)credit to Service Revenue for $6,500. 
C)debit to Income Summary for $6,500. 
D)debit to Retained Earnings for $6,500.

The Following Information Is from the Income Statement of the Campus