Which of the following accounts will be closed by debiting the Income Summary account?
A) Depreciation Expense
B) Accounts Payable
C) Service Revenue
D) Accumulated Depreciation

Name: Which of the following accounts will be closed by debiting the Income Summary account? A) Depreciation Expense B) Accounts Payable C) Service Revenue D) Accumulated Depreciation
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Question

Quizplus · Accepted Answer

Depreciation Expense is a temporary account that is closed to Income Summary at the end of the accounting period.

Which of the Following Accounts Will Be Closed by Debiting