4 points QUESTION 2 The Income Summary account has a $25,000 debit balance after the...
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4 points QUESTION 2 The Income Summary account has a $25,000 debit balance after the revenue and expenses accounts have been closed. To which account is this balance closed? Owner s withdrawals Sales revenue Cost of goods sold Retained earnings 4 points QUESTION 3 The Income summary account has a $25,000 debit balance after the revenue and expenses accounts have been closed. What does this balance represent? Additional owner investments Owner withdrawals Net income Net loss
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