Business, 10.03.2020 22:36 stranger123

Rider Company is in the process of preparing it closing entries. It first closes its revenue accounts by crediting the Income Summary account for $68,000 and then, closes its expense accounts by debiting the Income Summary account for $45,000. The entry to then close the Income Summary account is
Income Summary, $23,000
Retained Earnings, $23,000.

68,000-45,000= 23,000

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Rider Company is in the process of preparing it closing entries. It first closes its revenue account...

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