On Flex Company's worksheet the revenue account had a normal balance of $4,100. The entry to close the account would include a

Question

Quizplus · Accepted Answer

To close the revenue account with a normal balance of $4,100, the entry should include a credit to Income Summary for $4,100, which will transfer the revenue to the Income Summary account. The Income Summary account will then be closed to the retained earnings account. The other options do not accurately reflect the process of closing the revenue account.

On Flex Company's Worksheet the Revenue Account Had a Normal