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The Following Normal Account Balances Were Found on the General

Question 20

Multiple Choice

The following normal account balances were found on the general ledger before closing entries were prepared:  Revenue $800 Cash $500 Expenses $400 Accounts Receivable $350 Capital $7,500 Withdrawals $1,000\begin{array} { | l | l | } \hline \text { Revenue } \$ 800 & \text { Cash } \$ 500 \\\hline \text { Expenses } \$ 400 & \text { Accounts Receivable } \$ 350 \\\hline \text { Capital } \$ 7,500 & \text { Withdrawals } \$ 1,000 \\\hline\end{array} After closing entries are posted,what is the balance in the Revenue account?


A) $800
B) $0
C) $300
D) Closing entries do not affect Revenue.

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