After preparing and posting the closing entries for revenues and expenses the income summary account...
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After preparing and posting the closing entries for revenues and expenses the income summary account has a debit balance of 33 000 The entry to close the income summary account will be Multiple Choice Debit Owner Withdrawals 33 000 credit Income Summary 33 000 Debit Income Summary 33 000 credit Owner Withdrawals 33 000 Debit Income Summary 33 000 credit Owner Capital 33 000 Debit Owner Capital 33 000 credit Income Summary 33 000 Debit Owner Withdrawals 33 000 Credit Owner Capital 33 000
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