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Question 1 of 13 View Polides Current Attempt in Progress At January 1, 2022. Spiderland...

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Accounting

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Question 1 of 13 View Polides Current Attempt in Progress At January 1, 2022. Spiderland Company reported a balance of $20,000 in the Owner's Capital account Spiderland Company carned revenues of $50,000 and incurred expenses of $32,000 during 2022. The company had owner drawings of $10,000 during the year and there were no new investments during the year. Prepare the entries to close Income Summary and the Owner's Drawings account at December 31, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually Date Account Titles and explanation Debit Credit Dec. 31 (To cose net income to owner's capital.) Dec 31 (To dose owner's drawings to owner's capital) eTextbook and Media List of Accounts G Search or type URL 2 $ 4 3 % 5 6 7 8 9 0 * w E R T Y U 0 S D F G . J K L X C V B > N. M 1 #

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