Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 3 - No. 32)
To transfer the credit balance for rent income earned to the income statement for the calculation of profit or loss for the year, then ____
You will decrease the debit amount in income statement.
You will increase the credit amount in income statement.
You will increase the debit amount in the income statement.
None of the above.
Explanation
The credit balance will increase the amount in the income statement.
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