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[The following information applies to the questions displayed below.] Shown below is the adjusted Trial Balance for Simon Inc., on December 31, after the first

[The following information applies to the questions displayed below.]

Shown below is the adjusted Trial Balance for Simon Inc., on December 31, after the first year of operations, after adjusting entries:

Simon, Inc.
Adjusted Trial Balance
December 31
Cash $ 1,600
Accounts Receivable 4,000
Office Equipment 16,800
Accumulated Depreciation $ 1,600
Capital Stock 2,400
Retained Earnings 2,720
Dividends 960
Service Fees Earned 21,920
Wages Expense 3,200
Supplies Expense 1,120
Depreciation Expense 960
$ 28,640 $ 28,640

The entry to close the Service Fees Earned account will:

Select one:

a. Produce a zero balance in that account when posted.

b. Include a debit to Income Summary.

c. Include a credit to Service Fees Earned.

d. Include a debit to Capital Stock.

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