Use This End-Of-Period Spreadsheet to Answer the Questions That Follow

question 196

Multiple Choice

Use this end-of-period spreadsheet to answer the questions that follow.
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-The entry to close the dividends account would be

• A) debit Retained Earnings, $3,000; credit Dividends, $3,000
• B) debit Retained Earnings, $12,000; credit Dividends, $12,000
• C) debit Dividends, $3,000; credit Retained Earnings, $3,000
• D) debit Dividends, $12,000; credit Retained Earnings, $12,000

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