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Big-Mouth Frog Corporation had revenues of $300,000, expenses of $200,000, and dividends of $45,000. When Income Summary is closed to Retained Earnings, the amount of
Big-Mouth Frog Corporation had revenues of $300,000, expenses of $200,000, and dividends of $45,000. When Income Summary is closed to Retained Earnings, the amount of the debit or credit to Retained Earnings is a
A) credit of $100,000 B) debit of $55,000 C) debit of $100,000 D) credit of $55,000
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Fundamental Cornerstones Of Managerial Accounting
Authors: Dan L. Heitger, Maryanne M. Mowen, Don R. Hansen
1st Edition
