Which of the following would be the closing entry for dividends declared?
a) Dr. Expense summary, Cr. Dividends declared
b) Dr. Retained earnings, Cr. Dividends declared
c) Dr. Dividends declared, Cr. Income summary
d) Dr. Dividends declared, Cr. Retained earnings
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Answer:
option c is a right answer
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C is CORRECT ✓
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