The Withdrawals account is closed to the Revenue account.
Correct Answer:
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Q59: The entry to close Income Summary (net
Q60: The entry to close the expense account(s)
Q61: The beginning capital balance is $6,200, there
Q62: Which of the following is a temporary
Q63: When revenue is closed:
A) Owner's Capital will
Q65: The entry to close the Fees Earned
Q66: When closing the Income Summary account when
Q67: When Income Summary has a credit balance
Q68: The revenue accounts debited and the Income
Q69: The entry to close Income Summary (net
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