Multiple Choice
The capital account has an ending balance of $17,000 and a beginning balance of $12,500. If withdrawals were $13,500, then the income summary account had a balance of ________ before closing.
A) $18,000 credit
B) $4,500 credit
C) $3,500 credit
D) $18,000 debit
Correct Answer:
Verified
Correct Answer:
Verified
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