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Please thanks The income statement for the month of June, 2020 of Novak, Inc. contains the following information: The entry to close the revenue account
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The income statement for the month of June, 2020 of Novak, Inc. contains the following information: The entry to close the revenue account includes a Income Summary has a credit balance of $12,000 after closing revenues and expenses. The entry to close Income Summary is credit Income Summary $12,000, debit the owner's capital account $12,000. debit Income Summary $12,000, credit the owner's capital account $12,000. debit Income Summary $12,000, credit the owner's drawings account $12,000. credit income Summary $12,000, debit the owner's drawings account $12,000 Step by Step Solution
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