Business, 22.02.2020 00:40 CutiePie6772

A major purpose of closing entries is to:

Select one:

a. zero out the Retained Earnings account

b. adjust the asset accounts to their current balances

c. transfer the net income and dividends of the period to Retained Earnings

d. close out the accounts payable account

e. none of the above

Answers: 1

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A major purpose of closing entries is to:

Select one:

a. zero out the Retain...

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