The Income summary account has a $25,000 debit balance after the revenue and expenses accounts have been closed. What does this balance represent?

Name: The Income summary account has a $25,000 debit balance after the revenue and expenses accounts have been closed. What does this balance represent?
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This balance represents a net loss because the Income Summary account has a debit balance after revenues and expenses have been closed into it, indicating expenses exceeded revenues.

The Income Summary Account Has a $25,000 Debit Balance After