The entry to close the revenue account includes a: *

Debit to income summary $37,100

Credit to income summary $33,000

Debit to Revenues for $37,100

Credit to Revenues for $33,000

The entry to close the expenses account includes a *

Debit to income summary $12,900

Credit to income summary $12,900

Debit to income summary for $9,900

Credit to total expenses for $9,900

After the revenue and expense accounts have been closed, the balance of Income Summary will be *

$0

Debit balance of $20,100

Credit balance of $20,100

Credit to total expenses for $9,900

When closing owners drawings and income summary to owners capital we should *

Credit owners drawings for $2,000 and debit income summary for $20,100

Debit owners drawings for $2,000 and Credit income summary for $20,100

Debit owners drawings for $2,000 and debit income summary for $20,100

None of the above

At December 31, 2018 after all closing entries have been posted the company will report owners capital of *

$9,700

$27,800

$18,100

$20,100

Lea Company Adjusted Trial Balance December 31, 2018 Debit Account Credit Cash $800 Account Receivable 3,000 Supplies 2,400 Land 6,000 Building 38,000 Accumulated depreciation Building $8,500 Account Payable 9,800 Unearned Revenue 4,100 9,700 Owner's Capital Owner's Drawings 2,000 Service Revenue 30,000 Interest Revenue 3,000 Supplies Expense 1,200 Salaries Expense 8,700 Depreciation Expense 3,000 Total $65,100 $65,100