Business, 24.03.2020 03:56 aidanw

The first two closing entries to the Income Summary account indicated a debt of $57,750 and a credit of $69.700. The third closing entry would be :

A. debit Income Summary $11,950; credit Capital $11,950.
B. debit Income Summary $11,950; credit Drawing $11,950.
C. debit Capital $11,950; credit Income Summary $11,950.
D. debit Revenue $69,700; credit Expenses $57,750.

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The first two closing entries to the Income Summary account indicated a debt of $57,750 and a credit...