Question
The company paid $20,000 cash in dividends to the owner, Jen Rogers. The entry needed to close the dividends account is: Debit Income Summary and
The company paid $20,000 cash in dividends to the owner, Jen Rogers. The entry needed to close the dividends account is:
Debit Income Summary and credit Dividends for $20,000.
Debit Retained Earnings and credit Dividends for $20,000.
Debit Dividends and credit Cash for $20,000
Debit Dividends and credit Retained Earnings for $20,000.
Debit Income Summary and credit Cash for $20,000.
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Monitoring And Auditing Practices For Effective Compliance
Authors: John E. Steiner
2nd Edition
0977843017, 978-0977843015
