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A) debit B. Conway, Drawing $600 credit B. Conway, Capital for $600. B) debit Income Summary $600 and credit B. Conway, Drawing for $600 C)
A) debit B. Conway, Drawing $600 credit B. Conway, Capital for $600.
B) debit Income Summary $600 and credit B. Conway, Drawing for $600
C) debit B. Conway, Drawing $600 and credit Income Summary for $600
D) debit B. Conway, Capital $600 and credit B. Conway, Drawing for $600.
Use the following account balances from the adjusted trial balance of ABC Consulting: Credit Balance Debit Balance 20,500 2.000 600 Account Cash Accounts Payable B. Conway, Drawing B. Conway, Capital Fees Revenue Salary Expense Rent Expense Supplies Expense Advertising Expense 13,000 18,000 2,600 3.000 1,900 800 Select the correct closing entry that ABC Consulting would make to close the owner's drawing account at the end of the accounting periodStep by Step Solution
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