Help Search A business has the following account balances on February 31, 2020, after posting all adjusting entries. All accounts have normal balances Account Balance Cost of goods sold 77,700 Amortization expense 15,800 Drawings 29,700 Interest expense 10,800 Rent revenue 25,400 Kwantlen, capital, Mar. 1, 2019 128,400 Prepaid rent 2.400 Advertising expense 5,100 Wage expense 54,300 Sales 194,200 Sales returns and discounts 5,700 Unearned rent 4,900 Part A: When the closing entry is prepared for temporary accounts with credit balances Income Summary will be debited for 5219,600 debited for $194.200 credited for $219,600 credited for $227,500 Part 8: When the closing entry is prepared for temporary accounts with debit balances, Income Summary will be debited for $169 400 debited for 163.700 Search Courses Part B: Wiren the closing entry is prepared for temporary accouns WiLITE balances, income summary will be Odebited for $169,400 Odebited for $163,700 Odebited for $164,500 debited for $91,700 Part C: When Income Summary is closed to Owner's Capital, Income Summary will be debited for $24,800 credited for $50,200 credited for $55,900 Ocredited for $25,100 Part D: Once closing entries are posted, the ending balance in Owner's Capital will be 5132,600 05162,100 5148,900 $130,500 Previous page