The entry to close Cost of Goods Sold includes
A. debiting Income summary and crediting Cost of Goods Sold.
B. debiting Cost of Goods Sold and crediting Income Summary.
C. debiting Retained Earnings and crediting Cost of Goods Sold.
D. debiting Cost of Goods Sold and crediting Retained Earnings.
Answer: A
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Fill in the blank(s) with correct word
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