The Rent Expense account had a normal balance of $1,100. The entry to close the account would include a:
A) debit to Rent Expense, $1,100.
B) debit to Income Summary, $1,100.
C) debit to Capital, $1,100.
D) credit to Income Summary, $1,100.
Correct Answer:
Verified
Q40: Closing entries will affect:
A) total assets.
B) Cash.
C)
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Q42: The following normal account balances were found
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Q46: The entry to close the Withdrawal account
Q47: The following normal account balances were found
Q48: The income statement credit column of the
Q49: The entry to close the revenue account(s)
Q50: The balance in the J. Higgins, Withdrawals
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