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Woods, Inc. earned revenues of $ 1 0 , 0 0 0 and incurred expenses of $ 9 , 0 0 0 . The company

Woods, Inc. earned revenues of $10,000 and incurred expenses of $9,000. The company declared and paid cash dividends of $3,000. What is the balance in the Income Summary account after closing net income or loss to the Retained Earnings account?
A. credit balance of $1,000
B. credit balance of $9,000
C. debit balance of $10,000
D. balance of $0
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