Each individual revenue account is debited when closing, and the total of all the revenue accounts is transferred to Income Summary.
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Q94: The first entry to close accounts is
Q95: Income Summary has a credit normal balance.
Q96: Identify whether the entries below are an
Q97: A real account is the same as
Q98: The income statement and balance sheet sections
Q100: Revenues are closed to the Withdrawal account.
Q101: What are the major goals of the
Q102: The trial balance prepared after all of
Q103: Why will the Income Summary account never
Q104: From the following items in the income
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