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If revenues exceed expenses for the accounting period, the income summary account: A) Will have a debit balance after closing. B) Will have a debit
| If revenues exceed expenses for the accounting period, the income summary account: | ||
| A) | Will have a debit balance after closing. | |
| B) | Will have a debit balance prior to closing. | |
| C) | Will have a credit balance prior to closing. | |
| D) | None of the above. |
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College Accounting
Authors: James A Heintz, Robert W Parry
20th Edition
538745215, 978-1111624743
