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cestrela7 [59]
3 years ago
7

The journal entry to close the Fees Earned, $750, and Rent Revenue, $175, accounts during the year-end closing process would inv

olve:
a debit to a general revenue account

debits to the two revenue accounts

credits to the two revenue accounts

a credit to a general revenue account
Mathematics
1 answer:
mestny [16]3 years ago
7 0

Answer:

credits to the two revenue accounts

Explanation:

The journal entry above is focusing on <u>"two revenue accounts"</u> and these are "Fees Earned" and "Rent Revenue."

Remember that "Fees Earned" is part of the revenue section in the<em> Income Statement.</em> It is the amount of money earned for services provided such as <em>auditing fees</em> or <em>consulting fees.</em>

An increase in revenue is being credited when it comes to<em> journal entries.</em> So, this means that "credits to the two revenue accounts" have to be made.

So, this explains the answer.  

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