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whats the correct answer: How is Income Summary closed if the company had a net loss? a.Credit Income Summary; debit Capital b.Debit Income Summary; credit

whats the correct answer:

How is Income Summary closed if the company had a net loss?

a.Credit Income Summary; debit Capital

b.Debit Income Summary; credit Capital

c.Debit Capital; credit Revenue

d. Debit Withdrawals: credit Capital

The amount shown in the adjustments credit column for Merchandise Inventory on the worksheet is:

a. beginning inventory.

b. ending inventory.

c. total purchases.

d. Cost of Goods Sold.

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