A business has the following account balances on February 31, 2020, after posting all adjusting entries. All accounts have normal balances. Account Cost of goods sold Amortization expense Drawings Interest expense Rent revenue Kwantlen, capital, Mar. 1, 2019 Prepaid rent Advertising expense Wage expense Sales Sales returns and discounts Unearned rent Balance 77,700 15,800 29,700 10,800 25,400 128,400 2,400 5,100 54,300 194,200 5,700 4,900 Part A: When the closing entry is prepared for temporary accounts with credit balances, Income Summary will be: Odebited for $219,600 Ocredited for $227,500 Odebited for $194,200 Ocredited for $219,600 Part A: When the closing entry is prepared for temporary accounts with credit balances, Income Summary will be: Odebited for $219,600 Ocredited for $227,500 Odebited for $194,200 Ocredited for $219,600 Part B: When the closing entry is prepared for temporary accounts with debit balances, Income Summary will be Odebited for $169,400 Odebited for $91,700 Odebited for $163,700 Odebited for $164,500 Part C: When Income Summary is closed to Owner's Capital, Income Summary will be: Ocredited for $25,100 Odebited for $24,800 Ocredited for $50,200 Ocredited for $55,900 Part D: Once closing entries are posted, the ending balance in Owner's Capital will be: $162,100 O$148,900 O$132,600 O$130,500