Use the Following Account Balances from the Adjusted Trial Balance

question 21

Multiple Choice

Use the following account balances from the adjusted trial balance of Gees Catering:

Select the correct closing entry that Gees Catering would make to close the owner's withdrawal account at the end of the accounting period.

• A) R. Gees, Capital $ 1,000 R. Gees, Drawing $ 1,000
• B) Income Summary $ 1,000 R. Gees, Drawing $ 1,000
• C) R. Gees, Drawing $ 1,000 R.Gees, Capital $ 1,000
• D) R. Gees, Drawing $ 1,000 Income Summary $ 1,000

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