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    Exam 4: Completing the Accounting Cycle
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    If the Totals of the Income Statement Debit and Credit
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If the Totals of the Income Statement Debit and Credit

Question 128

Question 128

True/False

If the totals of the Income Statement Debit and Credit columns of a work sheet are $27,000 and $29,000, respectively, after all account balances have been extended, the amount of the net loss is $2,000.

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