Shores Sports rents canoes and kayaks. Below is the adjusted trial balance at December 31. 
The entry required to close the revenue and expense accounts at the end of the period includes a:
A) debit to Retained Earnings for $33,520
B) credit to Retained Earnings for $33,520
C) debit to Retained Earnings for $4,780
D) credit to Retained Earnings for $4,780
Correct Answer:
Verified
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