Answer 1 of 10: I have been searching for apartments and hotels in Barcelona and they all seem to have double or twin beds. Are there any queen or king size beds to be found? It seems to me the largest beds are doubles. Thanks for any info.
Correct Answer: To reduce the balances of revenue and expense accounts to zero so that they may be used to accumulate the revenues and expenses of the next period. â¢ Question 8 0.5 out of 0.5 points Which type of account is always credited during the closing process? Answer Selected Answer: Expense. Correct Answer: Expense.
Accounting Journal: Closing Entries. Since sales and revenue accounts have a credit balance, these accounts are closed by debiting the sales and revenue accounts, and crediting the income summary account. Similarly, closing entries are made to the expense accounts by crediting each expense account, and debiting the income summary account. The difference between sales and expenses, or net income, was transferred to the income summary account.