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On The double-entry system requires that each transaction must be recorded Select one: a. in at least two different accounts. O O b. in a
On The double-entry system requires that each transaction must be recorded Select one: a. in at least two different accounts. O O b. in a journal and in a ledger. c. in two sets of books. 0 d. first as a revenue and then as an expense. If Income Summary has a credit balance after revenues and expenses have been closed into it, the closing entry for Income Summary will include a Select one: a. credit to the owner's capital account. b. credit to the owner's drawings account c. debit to the owner's drawings account. d. debit to the owner's capital account
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