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The Income Statement for the Month of June, 2015 of Camera

Question 68

Multiple Choice

The income statement for the month of June, 2015 of Camera Obscura Enterprises contains the following information: The income statement for the month of June, 2015 of Camera Obscura Enterprises contains the following information: After the revenue and expense accounts have been closed, the balance in Income Summary will be A) $0. B) a debit balance of $1,300. C) a credit balance of $1,300. D) a credit balance of $7,000. After the revenue and expense accounts have been closed, the balance in Income Summary will be


A) $0.
B) a debit balance of $1,300.
C) a credit balance of $1,300.
D) a credit balance of $7,000.

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