ABC Company has $3,100 in Rent Expense, $2,800 in Salaries Expense, and $300 in Supplies Expense at the end of the period. What would be the closing entry? A. Owner, Capital 6,200 Rent Expense 3,100 Salaries Expense 2,800 Supplies Expense 300 B. Rent Expense 3,100 Salaries Expense 2,800 Supplies Expense 300 Owner, Capital 6,200 C. Rent Expense 3,100 Salaries Expense 2,800 Supplies Expense 300 Income Summary 6,200 D. Income Summary 6,200 Rent Expense 3,100 Salaries Expense 2,800 Supplies Expense 300
ABC Company has $3,100 in Rent Expense, $2,800 in Salaries Expense, and $300 in Supplies Expense at the end of the period. What would be the closing entry? A. Owner, Capital 6,200 Rent Expense 3,100 Salaries Expense 2,800 Supplies Expense 300 B. Rent Expense 3,100 Salaries Expense 2,800 Supplies Expense 300 Owner, Capital 6,200 C. Rent Expense 3,100 Salaries Expense 2,800 Supplies Expense 300 Income Summary 6,200 D. Income Summary 6,200 Rent Expense 3,100 Salaries Expense 2,800 Supplies Expense 300
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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