Tuesday 5 June 2012

The income statement and balance sheet columns of Pine Company’s

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
 

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