Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 36 - No. 46)
What would be included in the calculation of 'Total credit balances for the income earned'?
Cost of goods sold.
Final debit balances for cost of goods.
Selling expenses.
Income earned during the year.
Explanation
Income earned includes all revenue generated by the business during the accounting period.
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