[The following information applies to the questions displayed below.]
Shown below is a trial balance for Novelty Toys,Inc. ,on December 31,after adjusting entries:
-The entry to close the Fees Earned account will:
A) Produce a zero balance in that account when posted.
B) Include a debit to Income Summary.
C) Include a credit to Fees Earned.
D) Include a debit to Capital Stock.
Correct Answer:
Verified
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