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The Following Information Is Available for Crandall Company Before Closing

Question 96

Multiple Choice

The following information is available for Crandall Company before closing the accounts. What will be the amount in the Income Summary account that should be closed to Crandall, Capital? The following information is available for Crandall Company before closing the accounts. What will be the amount in the Income Summary account that should be closed to Crandall, Capital? A) $80,000. B) $64,400. C) $43,000. D) $32,400. E) $42,400.


A) $80,000.
B) $64,400.
C) $43,000.
D) $32,400.
E) $42,400.

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