Multiple Choice
After closing the revenue and expense accounts, Income Summary showed a debit balance of $1,900. Which of the following statements is true?
A) The company had a net loss of $1,900.
B) The company had a net income of $1,900.
C) The company's cash increased $1,900.
D) The Capital account increased $1,900.
Correct Answer:
Verified
Correct Answer:
Verified
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