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whats the correct answer: How is Income Summary closed if the company had a net loss? a.Credit Income Summary; debit Capital b.Debit Income Summary; credit
whats the correct answer:
How is Income Summary closed if the company had a net loss?
a.Credit Income Summary; debit Capital
b.Debit Income Summary; credit Capital
c.Debit Capital; credit Revenue
d. Debit Withdrawals: credit Capital
The amount shown in the adjustments credit column for Merchandise Inventory on the worksheet is:
a. beginning inventory.
b. ending inventory.
c. total purchases.
d. Cost of Goods Sold.
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