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After all revenue and expense accounts have been closed at the end of the fiscal year, Income Summary has a debit of $747,600 and a

After all revenue and expense accounts have been closed at the end of the fiscal year, Income Summary has a debit of $747,600 and a credit of $961,700. At the same date, Debra Allen, Capital has a credit balance of $1,431,000, and Debra Allen, Drawing has a balance of $32,000.

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