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Revenues Total $10,200.Expenses Total $7,300.Withdrawals Total $2,600

Question 64

Multiple Choice

Revenues total $10,200.Expenses total $7,300.Withdrawals total $2,600.
-What is the balance in the Income summary account after closing Net income or loss to the Capital account?


A) Debit balance of $2,900
B) Credit balance of $300
C) Credit balance of $2,900
D) Balance of $0

Correct Answer:

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