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If Sales Are $540,000,expenses Are $440,000 and Dividends Are $50,000,Income

Question 71

Multiple Choice

If sales are $540,000,expenses are $440,000 and dividends are $50,000,Income Summary:


A) Will have a credit balance of $50,000.
B) Will have a debit balance of $50,000.
C) Will have a debit balance of $100,000.
D) Will have a credit balance of $100,000.

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