In this case, it’s a credit balance of $15,000 ($100,000 – $85,000), which represents the net revenue. If the company income for the yr, the retained earnings will come on the debit facet of the income abstract account. Conversely, if the corporate bears a loss within the 12 months, it comes on the credit side …
In this case, it’s a credit balance of $15,000 ($100,000 – $85,000), which represents the net revenue. If the company income for the yr, the retained earnings will come on the debit facet of the income abstract account. Conversely, if the corporate bears a loss within the 12 months, it comes on the credit side …
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