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The income statement for the year 2 0 2 0 of Waterway Co . contains the following information: After all closing entries have been posted,

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The income statement for the year 2020 of Waterway Co. contains the following information:
After all closing entries have been posted, the revenue account will have a balance of
$7800 credit.
$70700 debit.
$70700 credit.
$0.
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