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Ace Company reports revenues of $48,500 and expenses of $34,400. The owner made no additional investments during the period, but withdrew $8,400 cash from
Ace Company reports revenues of $48,500 and expenses of $34,400. The owner made no additional investments during the period, but withdrew $8,400 cash from the business. After closing entries are recorded, determine the amount of the increase or decrease in the owner's capital account. Amount of in the owner's capital account is Check my work For each account, identify whether it is included in a post-closing trial balance. a. Haircutting Revenue b. Consulting Revenue c. Wages Payable d. Salaries Expense e. Commission Revenue f. Postage Expense Included in post-closing trial balance?
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