Capri Company began the current period with a $34,000 credit balance in the K. Capri, Capital account. At the end of the period, the company's adjusted account balances include the following temporary accounts with normal balances. Service fees earned Salaries expense Depreciation expense 9,400 $90,000 Interest revenue 41,000 K. Capri, Withdrawals Utilities expense $11,200 17,000 6,500 1. After closing the revenue and expense accounts, what will be the balance of the Income Summary account? Step 1: Close Revenues to Income Summary Debit Credit Step 2: Close Expenses to Income Summary Debit Credit Interest revenue Depreciation expense Income Summary Interest revenue K. Capri, Capital K. Capri, Withdrawals Salaries expense Income Summary 2. After all closing entries are journalized and posted, what will be the balance of the K. Capri, Capital account? Step 3: Close Income Summary to Capital Step 4: Close Withdrawals to Capital Debit Credit K. Capri, Capital Beginning balance 34,000 0