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QUESTION

1) Complete Problem # 4, the “Behind the Scene” closing entry to close all the Revenue accounts is a credit to Retained Earnings for the amount of ___________________ .2) Complete Problem # 4, the

1) Complete Problem # 4, the “Behind the Scene” closing entry to close all the Revenue accounts is a credit to Retained Earnings for the amount of ___________________ .

2) Complete Problem # 4, the “Behind the Scene” closing entry to close all the Expense accounts is a debit to Retained Earnings for the amount of ___________________ . 

3) Complete Problem # 4, The entry to close the Owner’s Drawing account will include : 

a) Debit to Retained Earnings

b) Debit to Owner, Draw

c ) Credit to Cash

d) Credit to Retained Earnings

e) None of the above

4) Complete Problem # 4, the entry to close the Sales Revenue account will include : 

a) Debit to Owner, Capital

b) Debit to Sales Revenue

c) Credit to Sales Revenue

d) Credit to Owner, Capital

e) None of the above

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