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When preparing closing entries, which of the following statements is correct? Select one: a. the Owner's Drawings account is debited. b. expense accounts are credited.
When preparing closing entries, which of the following statements is correct?
Select one:
a.
the Owner's Drawings account is debited.
b.
expense accounts are credited.
c.
revenue accounts are credited.
d.
the Owner's Capital account is debited if there is profit.
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