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The entry to close Service Revenue includes a debit to: O A. Service Revenue and a credit to Retained Earnings. O B. Retained Earnings and
The entry to close Service Revenue includes a debit to: O A. Service Revenue and a credit to Retained Earnings. O B. Retained Earnings and a credit to Service Revenue. OC. Service Revenue and a credit to Stockholders' Equity. OD. Service Revenue and a credit to Net Income. A company started the year with $600 of supplies. During the year the company purchased additional supplies costing 2,000. There were $900 of supplies on hand at the end of the year. An adjusted trial balance, prepared at the end of the accounting period, will show the following balance in Supplies Expense: O A. $2,000 OB. $900 OC. $300 OD $1,700
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