The income statement for the year 2018 of Fugazi Co. contains the following information: 
After the revenue and expense accounts have been closed, the balance in Income Summary will be
A) $0.
B) a debit balance of $7,500.
C) a credit balance of $7,500.
D) a credit balance of $70,000.
Correct Answer:
Verified
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A) after
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Q93: A post-closing trial balance will show
A) zero
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A) only
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