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A company's ledger accounts and their end of period balances before closing entries are posted are shown below. What amount will be posted to
A company's ledger accounts and their end of period balances before closing entries are posted are shown below. What amount will be posted to Wilson Peters, Capital in the process of closing the Income Summary account? (Assume all accounts have normal balances.) Wilson Peters, Capital Wilson Peters, Withdrawals Revenue Rent expense Salaries expense Insurance expense $ 7,000 9,600 29,000 3,600 7,200 920 Depr. Expense-equipment Accum depr.-equipment Mutiple Choice $23.780 creat $16,780 credit 500 1,500
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