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Income Summary Has a Credit Balance of $19000 in B

Question 160

Multiple Choice

Income Summary has a credit balance of $19000 in B. Browne Co. after closing revenues and expenses. The entry to close Income Summary is


A) credit Income Summary $19000 debit Owner's Capital $19000.
B) credit Income Summary $19000 debit Owner's Drawings $19000.
C) debit Income Summary $19000 credit Owner's Drawings $19000.
D) debit Income Summary $19000 credit Owner's Capital $19000.

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