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If a business has a net loss for a fiscal period, the journal entry to close the Income Summary account is: Multiple Choice a

If a business has a net loss for a fiscal period, the journal entry to close the Income Summary account is: Multiple Choice a debit to Income Summary and a credit to Fees Income. a debit to Income Summary and a credit to Capital. a debit to Capital and a credit to Drawing. a debit to Capital and a credit to Income Summary.

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