Register
If a company sold $1,000 worth of goods in a period, the closing entry for the revenue accounts would show a A. $1,000 credit to Sales Expense B. $1,000 debit to Income Summary C. $1,000 debit to Sales
7.0k views
4 votes
If a company sold $1,000 worth of goods in a period, the closing entry for the

revenue accounts would show a
A. $1,000 credit to Sales Expense
B. $1,000 debit to Income Summary
C. $1,000 debit to Sales Revenue
D. $1,000 credit to Sales Revenue

User StrongJoshua
by
5.0k points

2 Answers

4 votes

Answer:$1,000 debit to sales revenue

Step-by-step explanation:

User Alextes
by
4.8k points
2 votes

Answer:

Explanation:C. $1,000 debit to sales revenue

User Stojevskimilan
by
5.1k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.7m questions

7.4m answers

Other Questions

_____ reminds customers and clients that they made a good choice in selecting a company with which to do business, or it reminds them of the good qualities of their purchase.​
On august 1 the darius co. purchased a photocopy machine for $8,000. the estimated annual depreciation on the machine is $1,680. if the company prepares annual financial statements on december 31, the
When president obama was elected, the u.s. economy was in trouble, and has slid into a recession. consumer spending was low and getting worse. in an effort to stop the decline, president obama proposed
Ensuring that an individual is who they claim to be is the function of _____. select one: a. confidentiality b. authorization c. availability d. authentication e. nonrepudiation
The current market price for good y is above the equilibrium price, and then the price of a subsitute good, x, increases. the demand curve for good y shifts as a result. what is the likely outcome of the
Link Copied!