a-company-has-sales-revenue-of-80000-what-is-the-correct-closing-entry

Question

A company has sales revenue of $80,000. What is the correct closing entry?

Accepted Answer

Debit Sales Revenue $$80,000; Credit Income Summary 80$$,000

Answer

Credit Sales Revenue $$80,000; Debit Income Summary 80$$,000

Answer

Credit Income Summary $$80,000; Debit Sales Revenue 80$$,000

Answer

Debit Income Summary $$80,000; Credit Sales Revenue 80$$,000

A company has sales revenue of \$80,000. What is the correct closing entry?