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If a business reports a net loss for the period, the journal entry to close the Income Summary account would be __________.

A. a debit to Capital and a credit to Income Summary
B. a debit to Revenue accounts and a credit to Income Summary
C. a debit to Income Summary and a credit to Capital

User Emecas
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2 Answers

2 votes

Answer:

Explanation: do your best

User Brendan Weinstein
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2 votes

Answer:

My answer is C

Step-by-step explanation:

User Lid
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