If the sum of the Ending Balance(s) in the revenue account(s) is greater than the sum of the Ending Balances in the expense accounts, then Retained Earnings will increase as a result of the closing entries. a) trueb) false

Rebel technology maintains its records using cash-basis accounting. during the year, the company received cash from customers, $43,000, and paid cash for salaries, $23,500. at the beginning of the year, customers owe rebel $1,000. by the end of the year, customers owe $6,600. at the beginning of the year, rebel owes salaries of $5,600. at the end of the year, rebel owes salaries of $3,300. determine cash-basis net income and accrual-basis net income for the year.