Which of the Following Accounts Is Debited in the Closing

question 96

Multiple Choice

Which of the following accounts is debited in the closing entries?

• A)Sales
• B)Unearned Subscriptions
• C)Sales Returns and Allowances
• D)Sales Discounts
• E)Insurance Expense

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Definitions:

Technology

The application of scientific knowledge for practical purposes, especially in industry.

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The cost per unit volume of gasoline, typically influenced by factors like crude oil prices, taxes, and demand.

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A process of making three-dimensional solid objects from a digital file, commonly known as 3D printing, by layering materials.