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Which of the following journal entries is required to close the Income Summary account of an unprofitable company? A.Credit Income Summary, debit Common Stock. B.None

Which of the following journal entries is required to close the Income Summary account of an unprofitable company?

A.Credit Income Summary, debit Common Stock.

B.None of these answers are correct

C.Debit Income Summary, credit Retained Earnings

D.Debit Income Summary, credit Revenue

E.Credit Income Summary, debit Retained Earnings

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