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

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

User Dimitar K
by
7.6k points

2 Answers

6 votes
The answer Is A
Retained Earning
User Ahmadali Shafiee
by
7.9k points
5 votes

Answer:

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

Step-by-step explanation:

User Nikhil Redij
by
8.7k points
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