The
income statement and balance sheet columns of Pine Company’s worksheet
reflects the following totals: Income StatementBalance Sheet
Dr.Cr.Dr.Cr.Totals$58,000$48,000$34,000$44,000 Closing entries are necessary for __________.
A. permanent or real accounts only B. permanent accounts only C. both permanent and temporary accounts D. temporary accounts only
Dr.Cr.Dr.Cr.Totals$58,000$48,000$34,000$44,000 Closing entries are necessary for __________.
A. permanent or real accounts only B. permanent accounts only C. both permanent and temporary accounts D. temporary accounts only
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