The purpose of closing the books is to transfer:
A) Drawing to Sales.
B) Cost of Goods Sold to Accounts Payable.
C) Checking to Accounts Receivable.
D) Net income to Retained Earnings
E) None.
Correct Answer:
Verified
Q1: The purpose of an adjusting entry is
Q2: In Chapter 7, adjusting entries are dated
Q3: How do you access Account and Settings?
A)Plus
Q3: To close the books, change the trial
Q5: When the Balance Sheet's date is changed
Q6: A list report with amounts can be
Q9: Before completing work in Chapter 7, display
Q10: A period that the company uses for
Q11: Use the Settings menu to record journal
Q11: Accounts that are closed as the end
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