A debit balance in Income Summary indicates the company a made an error b had a net loss for the period c had a net income for the period d is in its first year of operations

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A debit balance in Income Summary indicates the company: a . made an error. b . had a net loss for the period. c .

A debit balance in Income Summary indicates the company:

.

made an error.

.

had a net loss for the period.

.

had a net income for the period.

.

is in its first year of operations.

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