Multiple Choice
At the end of the accounting period,but before the closing entries have been recorded,Doug,the proprietor of Pepper's Cafe,has a debit of $12,250 in his drawing account and a credit of $63,400 in his capital account.If his capital account has a credit balance of $68,950 after the closing,what was his net income?
A) $5,550
B) $17,800
C) $56,700
D) $6,700
Correct Answer:

Verified
Correct Answer:
Verified
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