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1.17 Pathetic Corporation had the following income summary account on December 31: Income Summary 90,000 (a) Is this a net income or a net

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1.17 Pathetic Corporation had the following income summary account on December 31: Income Summary 90,000 (a) Is this a net income or a net loss situation? (b) Prepare the closing entry. 70,000 HOTFOU

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