Use the Following Account Balances from the Adjusted Trial Balance

question 90

Multiple Choice

Use the following account balances from the adjusted trial balance of ABC Consulting:

Select the correct closing entry that ABC Consulting would make to close their revenue account(s) at the end of the accounting period.

• A)debit Income Summary and credit Fees Revenue for $18,000.
• B)debit Fees Revenue and credit Cash for $18,000.
• C)debit Fees Revenue and credit B. Conway, Capital for $18,000.
• D)debit Fees Revenue and credit Income Summary for $18,000.

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