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circle the letter with the best response 14. Which of the following is an adjusting entry? a. Accounts receivable is closed to reflect the amounts
circle the letter with the best response
14. Which of the following is an adjusting entry? a. Accounts receivable is closed to reflect the amounts paid during the year. b. Depreciation on automobiles is $1,000 for the year. c. Revenues are closed to reflect the revenue earned but not yet received d. Capital is closed to reflect the withdrawals during the year. Which of the following accounts is a closing entry? a. Accounts receivable is closed to reflect the amounts paid during the year. b. Salary expense is closed to reflect the salaries owed but not yet paid. c. Revenues are closed to allow an accurate account of annual revenue. d. Capital is closed to reflect the withdrawals during the year. 25. When the cash drawer is short at the end of the day, Cash Short and Over is debited and sales is credited Cash Short and Over is debited and cash is credited Sales is debited and Cash Short and Over is credited Cash is debited and Cash Short and Over is credited so Step by Step Solution
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