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Question 20 If the net income is 7,000, what is the closing entry to close the income summary account? The owners name is Reyes A. Dr. Income Summary 7000; Cr. Reyes, Withdrawals 7,000 B. Dr. Income Summary 7,000 Cr. Net Income 7,000 C. Dr. Reyes, Capital 7,000 Cr. Reyes, WithBrawals 7,000 D. Dr. Net Income 7,000 Cr. Income Summary 7,000 O E. None of the above A Moving to the next question prevents changes to this answer Quemonta Question 18 Spot Inicky Company's balance sheet the bauce for cash, a permanent account, $11,000 at the dose of business on December 31, 2011 and 12.500 at December 11, 2018 What is the ances balance the winning of business on January 1, 2007 A 1000 0.10.000 11.000 D. 12.500 None of the above