[The Following Information Applies to the Questions Displayed Below

question 124

Multiple Choice

[The following information applies to the questions displayed below.]
Shown below is the adjusted Trial Balance for Simon Inc. ,on December 31,after the first year of operations,after adjusting entries:

-The entry to close the Service Fees Earned account will:

• A)Produce a zero balance in that account when posted.
• B)Include a debit to Income Summary.
• C)Include a credit to Service Fees Earned.
• D)Include a debit to Capital Stock.

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Definitions:

Dominant Language

The primary language spoken by the majority of the population in a given area or by a particular group of people, often holding significant societal power.

Active Listening

A communication technique involving fully concentrating, understanding, responding, and then remembering what is being said.

Stronger Relationships

Connections between individuals that are enhanced through trust, communication, and understanding, leading to deeper emotional bonds.

Fewer Misunderstandings

A reduction in the number of incorrect interpretations or confusions between communicating parties.