Refer to the information above. The entry to close Salaries expense account will:
A) Produce a zero balance in that account when posted.
B) Include a credit to Income Summary.
C) Include a debit to Salaries Expense.
D) Include a credit to Capital Stock.

Question

Quizplus · Accepted Answer

Closing the Salaries Expense account involves debiting Income Summary and crediting Salaries Expense, resulting in a zero balance in the Salaries Expense account.

Refer to the Information Above