Question
Income Summary has a credit balance of $12,000 in J. Spencer, Co. after closing revenues and expenses. The entry to close Income Summary is:
Income Summary has a credit balance of $12,000 in J. Spencer, Co. after closing revenues and expenses. The entry to close Income Summary is:
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Financial Accounting Tools for business decision making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th Edition
978-1119191674, 047053477X, 111919167X, 978-0470534779
