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Shown below is a trial balance for Novelty Toys, Inc., on December 31, after adjusting entries: Refer to the information above. The entry to close
Shown below is a trial balance for Novelty Toys, Inc., on December 31, after adjusting entries: Refer to the information above. The entry to close the Fees earned account will:
Include a debit to Capital Stock. |
Produce a zero balance in the accounts receivable account when posted. |
Include a credit to Fees Earned. |
Include a credit to Income Summary. |
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