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A company had revenues of $63,500 and expenses of $48,250 for the accounting period. The owner withdrew $7,000 in cash during the same period. Which

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A company had revenues of $63,500 and expenses of $48,250 for the accounting period. The owner withdrew $7,000 in cash during the same period. Which of the following entries could not be a closing entry? Debit Income Summary $48,250, credit Expenses $48,250. Debit Income Summary $63,500; credit Revenues $63,500. Debit Revenues $63,500; credit Income Summary $63.500. Debit income Summary $15,250 : credit Owner's. Capital $15,250. Debit Owner's, Capital $7,000, credit Owner's, Withdrawals $7,000

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