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Blondebombshell Blondebombshell
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6 years ago
Dogwood Company earned revenues of $19,000 and incurred expenses of $7,000. The owner made withdrawals of $3,500. What is the balance in the Income Summary account prior to closing net income or loss to the Owner, Capital account?
A) debit balance of $12,000
B) debit balance of $8,500
C) credit balance of $12,000
D) credit balance of $19,000
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
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piepie
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#1
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6 years ago
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Blondebombshell Author
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6 years ago
Brilliant ツ
ediblefruitz
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Smart ... Thanks!
deathDoUsPart
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Helped a lot
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