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Argosy Company began the current period with a $14,000 credit balance in the D. Argosy, Capital account. At the end of the period, the companys
Argosy Company began the current period with a $14,000 credit balance in the D. Argosy, Capital account. At the end of the period, the companys adjusted account balances include the following temporary accounts with normal balances. Service fees earned $ 35,000 Interest revenue $ 3,500 Salaries expense 19,000 D. Argosy, Withdrawals 6,000 Depreciation expense 4,000 Utilities expense 2,300 After closing the revenue and expense accounts, what will be the balance of the Income Summary account? (Omit the "$" sign in your response.) Credit balance $ After all closing entries are journalized and posted, what will be the balance of the D. Argosy, Capital account? (Omit the "$" sign in your response.) Ending balance $
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