Where does the Profit go when closing entries? A. Retained Earnings B. Revenue C. The Income Summary D. Cash

asked Nov 16, 2024 99.0k views

5 votes

Where does the Profit go when

closing entries?
A. Retained Earnings
B. Revenue
C. The Income Summary
D. Cash

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6 votes

The answer Is A
Retained Earning

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5 votes

Answer:

The profit goes to the Retained Earnings account when closing entries are made.

Step-by-step explanation:

Nikhil Redij answered Nov 22, 2024

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