Teresa Davis is the owner of a convenience shop. The firm had a net income of $4,500 for the year. What accounts are debited and credited to transfer the net income to the owner's capital account during the closing process?

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The Answer of Teresa Davis is the owner of a convenience shop. The firm had a net income of $4,500 for the year. What accounts are debited and credited to transfer the net income to the owner's capital account during the closing process?

Teresa Davis Is the Owner of a Convenience Shop