The First Entry to Close Accounts Is to Credit Revenue

question 63

True/False

The first entry to close accounts is to credit Revenue and debit Income Summary.

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Definitions:

Sales

The activity or business of selling products or services to customers.

Writing Style

The distinctive way an author uses language, including choices about vocabulary, structure, and tone, in their written works.

Direct Mails

A marketing strategy that involves sending promotional materials or correspondence directly to potential customers through postal mail.

Persuasive Direct Request

A communication approach designed to convince the reader or listener to comply with a specific request immediately.