Capri Company began the current period with a $40,000 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. Services revenue Salaries expense Depreciation expense $ 102,000 Interest revenue 39,500 K. Capri, Withdrawals 11,609 Utilities expense $ 10,800 18,eee 6,40e 1. After closing the revenue and expense accounts, what is 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 Income Summary 0 0 2. After all closing entries are journalized and posted, what is the balance of the K. Capri, Capital account? Debit Credit Step 3: Close Income Summary to Capital Step 4: Close Withdrawals to Capital K. Capri, Capital 40.000 Beginning balance 0