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Answer the following questions: 1. What type of balance does the Owner, Capital account have-debitor credit? 2. Which income statement account has the same type of balance as the Capital account? 3. Which type of income statement account has the opposite type of balance as the Capital account? 4. What do we call the difference between total debits and total credits on the income statement? Into what accounts is the difference figure closed at the end of the period? account 1. What type of balance does the Owner, Capital account havo-debit or credit? The Owner, Capital account has a balance 2. Which income statement account has the same type of balance as the Capital account? The income statement account with the same type of balance as the Capital account in the 3. Which type of income statement account has the opposite type of balance as the Capital account? are the income statement accounts that have the opposite type of balance as the Capital account 4. What do we call the difference between total debits and total credits on the income statement? Into what accounts is the difference figure closed at the end of the period? The difference between total debits and credits on the income statement is called The difference figure is closed in the

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