Income Summary has a credit balance of $12,000 after closing revenues and expenses. The entry to close Income Summary is debit Income Summary $12,000, credit the owner's drawings account $12,000. credit Income Summary $12,000, debit the owner's capital account $12,000. credit Income Summary $12,000, debit the owner's drawings account $12,000. debit Income Summary $12,000, credit the owner's capital account $12,000