What type of accounts are closed by transferring their balances (a) as a debit to Income Summary,

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What type of accounts are closed by transferring their balances

(a) as a debit to Income Summary,

(b) as a credit to Income Summary?

LO5

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Accounting

ISBN: 9780324025422

20th Edition

Authors: Carl S. Warren, James M. Reeve, Philip E. Fess

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Question Posted: Jun 27, 2024 02:18 AM

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What type of accounts are closed by transferring their balances (a) as a debit to Income Summary,

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Accounting

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