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At the end of the accounting period, but before the closing entries have been recorded, Doug, the proprietor of Pepper's Cafe, has a debit of
At the end of the accounting period, but before the closing entries have been recorded, Doug, the proprietor of Pepper's Cafe, has a debit of $12,250 in his drawing account and a credit of $63,400 in his capital account. If his capital account has a credit balance of $68,950 after the closing, what was his net income? $5,550$17,800$56,700$6,700
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