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Jse the following adjusted trial balance to answer the question(s) below. Bayview Marina Adjusted Trial Balance December 31, 20xx Cash Accounts Receivable Supplies repaid Insurance

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Jse the following adjusted trial balance to answer the question(s) below. Bayview Marina Adjusted Trial Balance December 31, 20xx Cash Accounts Receivable Supplies repaid Insurance ock ccumulated Depreciation, Dock ccounts Payable eroy Allen, Capital eroy Allen, Withdrawals hip Rentals epreciation Expense, Dock ages Expense nsurance Expense $ 2,500 3,500 1,500 2,500 12, 0001 3,000 6,000 10,000 4,000 17,000 1,000 7:000 34. The entry to close the Leroy Allen, Withdrawals account inchudes a A) credit to Income Summary for $4,000. B) credit to Leroy Allen, Capital for $4,000. C). debit to Leroy Allen, Withdrawals for $4,000. D) debit to Leroy Allen, Capital for $4,000, 35. The entry to close the Ship Rentals account includes a A) credit to Ship Rentals for $17,000. B) debit to Income Summary for $17,000. C) debit to Leroy Allen, Capital for $17,000. D) debit to Ship Rentals for $17,000. 36. The entry to close the expense accounts includes a A) debit to Insurance Expense for $2,000. B) debit to Income Summary for $10,000. C) credit to Leroy Allen, Capital for $10,000 D) debit to Leroy Allen, Capital for $2,000. The amount of net income (or net loss) during the period is A) $16,000 net income. B) $10,000 net loss. C) $7,000 net income. D) $3,000 37. net income. 38. The entry to close Income Summary includes a A) debit to Income Summary for $7,000. 1n to Income Summary for $12,000. (or S 16.000

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