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. 14. When expenses exceed revenues in a year, resulting in a net loss, the entry to close the Income Summary account is: A. A
. 14. When expenses exceed revenues in a year, resulting in a net loss, the entry to close the Income Summary account is: A. A debit to Net Loss, and a credit to Income Summary. B A debit to Retaine...
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Accounting What the Numbers Mean
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,
9th Edition
978-0-07-76261, 0-07-762611-7, 9780078025297, 978-0073527062
