Which of the accounts below would be closed by posting a debit to the account?
A) Unearned Revenue
B) Fees Earned
C) Josh Morton, Drawing
D) Miscellaneous Expense

Question

Quizplus · Accepted Answer

Fees Earned is a revenue account, and revenue accounts have a normal credit balance. To close a revenue account, you would post a debit to offset the credit balance, transferring its balance to the Income Summary or directly to the owner's capital account.

Which of the Accounts Below Would Be Closed by Posting