Pivot Dance School, a sole proprietorship, has a loss of

$12,000

for its year ended December 31st. Which of the following is correct as it relates t closing process and the income summary account?\ Multiple Choice\ The owner's capital account would be credited

$12,000

and the Income Summary account would be debited\ The owner's withdrawals account would be credited for

$12,000

and the Income Summary account would be debited\ The owner's capital account would be debited for

$12,000

and the Income Summary account would be credited\ None of the choices are correct.\ The owner's withdrawals account would be debited for

$12,000

and the Income Summary account would be credited

Pivot Dance School, a sole proprietorship, has a loss of $12,000 for its year ended December 31st. Which of the following is correct as it relates dosing process and the income summary account? Multiple Choice The owner's capital account would be credited $12,000 and the Income Summary account would be debited The owner's withdrawals account would be credited for $12,000 and the Income Summary account would be debited The owner's capital account would be debited for $12,000 and the Income Summary account would be credited None of the choices are correct. The owner's withdrawals account would be debited for $12,000 and the Income Summary account would be credited