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Capri Company began the current period with a $35,000 credit balance in the K. Capri, Capital account. At the end of the period, the companys
Capri Company began the current period with a $35,000 credit balance in the K. Capri, Capital account. At the end of the period, the companys adjusted account balances include the following temporary accounts with normal balances. Service fees earned $ 114,000 Interest revenue $ 11,600 Salaries expense 39,500 K. Capri, Withdrawals 14,500 Depreciation expense 8,000 Utilities expense 6,300 1.After Closing the revenue and expense accounts, what will be the balane of the income summary account? Step1: Close Revenue to Income Summary: Debit: Credit
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