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QuickBooks Pro 2013 14th Edition by Janet Horne
Edition 14ISBN: 978-0133023350QuickBooks Pro 2013 14th Edition by Janet Horne
Edition 14ISBN: 978-0133023350 Exercise 16
WRITE THE LETTER OF THE CORRECT ANSWER IN THE SPACE PROVIDED BEFORE THE QUESTION NUMBER.
The closing entry for a drawing account transfers the balance of an owner's drawing account into the ________ account.
A) Retained Earnings
B) Net Income
C) Owner's Capital
D) Investment
The closing entry for a drawing account transfers the balance of an owner's drawing account into the ________ account.
A) Retained Earnings
B) Net Income
C) Owner's Capital
D) Investment
Explanation
Verified
Verified
Answer:
C. Owners capital account
Justi...
QuickBooks Pro 2013 14th Edition by Janet Horne
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Character 255
