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Rudik [331]
3 years ago
14

Select the statement below that explains how to use the Income Summary account. Multiple choice question. The Income Summary acc

ount is credited during the adjusting process, as it is a contra asset account. The Income Summary account is used during the closing process to facilitate the closing of revenue and expense accounts. The Income Summary account is used during the closing process to facilitate the closing of all permanent accounts. The Income Summary account is debited for the sum of all revenue accounts during the closing process.
Business
1 answer:
Phoenix [80]3 years ago
7 0

Answer:

Facilitate closing of revenue

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