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What is the balance in the revenue account

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Question - The following normal account balances were found on the general ledger before closing entries were prepared:

Revenue $700 Cash $500

Expenses $400 Accounts Receivable $350

Capital $7,500 Withdrawals $1,000

After closing entries are posted, what is the balance in the Revenue account?

A) $700

B) $0

C) $300

D) Closing entries do not affect Revenue.

Reference no: EM132625690

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