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After closing the revenue and expense accounts, Income Summary showed a debit balance of $1,600. Which of the following statements is true? O A. The

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After closing the revenue and expense accounts, Income Summary showed a debit balance of $1,600. Which of the following statements is true? O A. The company had a net loss of $1,600 O B. The Capital account increased $1,600 O C. The company had a net income of $1,600 O D. The company's cash increased $1,600 Click to select your

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