Which of the following accounts requires a debit to close the account at year-end?

  1. Prepaid rent.
  2. Sales revenue.
  3. Unearned revenue.
  4. Wage expense.

Answer b. Sales revenue

Explanation: In a T-account, their balances or equilibriums are on the right side. The special cases for this standard are the records of sales returns, sales allowances, and sales discounts—these records usually have debit balances in light of the fact that they are decreased to the sales account.

Was this answer helpful?


0 (0)


Choose An Option That Best Describes Your Problem

Thank you. Your Feedback will Help us Serve you better.

Leave a Comment

Your Mobile number and Email id will not be published. Required fields are marked *




Free Class