Question
End of year records for a business show: $ 50 000 20 000 4 000 Sales Cost of sales Selling expenses Revenue received in
End of year records for a business show: $ 50 000 20 000 4 000 Sales Cost of sales Selling expenses Revenue received in advance Depreciation expense Discount received Discount allowed Rent revenue Selling expenses 7 000 8 025 2 500 2 800 6 500 42 During the closing process the total credit to the Income Summary account would be?
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Financial Accounting Information for Decisions
Authors: John J. Wild
9th edition
1259917045, 978-1259917042
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