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Rosewood Inc earned revenues of $19,000 and incurred expenses of $4,000. The company declared and paid cash dividends of $1,500. What is the balance in the Income Summary account after closing net income
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Rosewood Inc earned revenues of $19,000 and incurred expenses of $4,000. The company declared and paid cash dividends of $1,500. What is the balance in the Income Summary account after closing net income or loss to the retained earnings account

User Sanemars
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5 votes

Answer:

the correct answer is credit balance of $15,000

good luck

User Rsaesha
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