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Use the following account balances from the adjusted trial balance of ABC Consulting: Debit Balance 24,100 Credit Balance 2,000 13,000 600 Account Cash Accounts Payable
Use the following account balances from the adjusted trial balance of ABC Consulting: Debit Balance 24,100 Credit Balance 2,000 13,000 600 Account Cash Accounts Payable B. Conway, Capital B. Conway, Drawing Fees Revenue Salary Expense Rent Expense Supplies Expense Advertising Expense 18,000 2,600 3,000 1,900 800 Select the correct closing entry that ABC Consulting would make to close the income summary account at the end of the accounting period. Multiple Choice debit B. Conway, Capital $9,700 and credit Income Summary for $9 700. debit Income Summary 59,700 and credit B. Conway, Capital for $9.700 big debit B. Conway, Capital 518,000 and credit Income Summary for $18,000. O debit Income Summary $600 credit B. Conway, Drawing for $600. Next >
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