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Which of the following statements is correct? Group of answer choices Expenses are closed to the Expense Summary account. In order to close the dividends
Which of the following statements is correct?
Group of answer choices
Expenses are closed to the Expense Summary account.
In order to close the dividends account, the income summary account should be debited.
In preparing closing entries, each expense account will be credited.
Revenues, expenses, and the dividends account are closed to the Income Summary account.
In order to close the dividends account, the retained earnings account should be credited.
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