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Capital has a credit balance of $1,885,000 and Teresa Schafer, Drawing has a balance of...

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Accounting

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Capital has a credit balance of $1,885,000 and Teresa Schafer, Drawing has a balance of $770,000. a. Journalize the entry required to close the Teresa Schafer, Drawing account. X Feedback Theck My Work capital account instead of Income Summary. b. Determine the amount of Teresa Schafer, Capital at the end of the period. x

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