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The income statement credit column of the worksheet of Nova Co. for the year ended 2008 shows sales revenue of $70,000. What is the entry
The income statement credit column of the worksheet of Nova Co. for the year ended 2008 shows sales revenue of $70,000. What is the entry to close the sales revenue account?
A. | debit to Income Summary for $70,000 and credit to sales revenue for $70,000. |
B. | debit to Cash for $70,000 and credit to Sales revenue for $70,000. |
C. | debit to Sales Revenue for $70,000 and credit to Income Summary for $70,000. |
D. | debit to Capital for $70,000 and credit to Sales Revenue for $70,000. |
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