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after closing all revenue and expenses accounts, weiss company had a debit balance in its income SUmmary account of $5,000. The proper entry to record
after closing all revenue and expenses accounts, weiss company had a debit balance in its income SUmmary account of $5,000. The proper entry to record the closing of the Income Summary account would include:
A. A debit to expenses of 5,000
B. a credit to retained earnings of 5,000
C. A credit to income summary of 5,000
D. A debit to revenues of 5,000
E. None of these
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