Logan Service Company earned revenues of $100,000 and incurred expenses of $107,000.The owner's name of the sole proprietorship is James Logan.Prepare the entry to close the Income Summary account.Omit explanation.

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The Answer of Logan Service Company earned revenues of $100,000 and incurred expenses of $107,000.The owner's name of the sole proprietorship is James Logan.Prepare the entry to close the Income Summary account.Omit explanation.

Logan Service Company Earned Revenues of $100,000 and Incurred Expenses