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Please explain how to solve this problem step by step BIU.x X,...

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Accounting

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Please explain how to solve this problem step by step
BIU.x X, X A..A. E. 1 Normal 1 No Spac... Heading 1 Heading 2 Title Subtitle Repl A Selec Editing Font Paragraph Styles 20. The income statement for the month of March, 2020 of Copper Corporation contains the following information: Revenues $15,000 Expenses: Salaries and Wages Expense $4,000 Rent Expense 1,000 Advertising Expense 750 Supplies Expense 250 Insurance Expense 200 Total expenses 6,200 Net income $8,800 After the revenue and expense accounts have been closed, the balance in Income Summary will be a. $0. b. a debit balance of $8,800. C. a credit balance of $6,200. d. a credit balance of $8,800. ds LE here to search O AL 12:38 PM V17/2020

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