When recording closing entries in the general journal,which of the following is written in the Description column?
A) "closing entries"
B) a description of the transaction
C) nothing
D) "zero out accounts"
Correct Answer:
Verified
Q41: Changes in owner's equity that result from
Q42: After the accounts are closed and the
Q43: The journal entry to close the income
Q44: After the closing entries are journalized and
Q45: Which step is taken at the end
Q47: A form of balance sheet that lists
Q48: The journal entry to close expense accounts
Q49: After the closing entries have been posted,which
Q50: Owner's equity can be increased through
A) withdrawals
Q51: The journal entry to close the income
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