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Which of accounts would be present in the closing entries

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Problem 1: If a journal entry includes a debit or credit to the Cash account, it is most likely which of the following?

A. a closing entry

B. an adjusting entry

C. an ordinary transaction entry

D. outside of the accounting cycle

Problem 2: If a journal entry includes a debit or credit to the Retained Earnings account, it is most likely which of the following?

A. a closing entry

B. an adjusting entry

C. an ordinary transaction entry

D. outside of the accounting cycle

Problem 3: Which of these accounts would be present in the closing entries?

A. Dividends

B. Accounts Receivable

C. Unearned Service Revenue

D. Sales Tax Payable

Reference no: EM132686770

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