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The Following Information Is from the Income Statement of Ike's

Question 67

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The following information is from the Income Statement of Ike's Lawn Service for the quarter ending September 2022: The following information is from the Income Statement of Ike's Lawn Service for the quarter ending September 2022:   The balance in Retained Earnings at July 1 was $3,200.Ike's distributed dividends of $2,200 during the period.After closing revenue and expenses, Income Summary will have a balance of A) $2,000 debit. B) $2,000 credit. C) $1,800 credit. D) $2,200 debit. The balance in Retained Earnings at July 1 was $3,200.Ike's distributed dividends of $2,200 during the period.After closing revenue and expenses, Income Summary will have a balance of


A) $2,000 debit.
B) $2,000 credit.
C) $1,800 credit.
D) $2,200 debit.

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