Question: 10 100% Collapse After preparing and posting the closing entries for revenues and expenses, the income summary account has a debit balance of $29,000. The

10 100% Collapse After preparing and posting the closing entries for

10 100% Collapse After preparing and posting the closing entries for revenues and expenses, the income summary account has a debit balance of $29,000. The entry to close the income summary account will be: Multiple Choice Debit Owner Withdrawals $29,000 credit income Summary $29,000 Debt income Summary $29,000; credit Owner Withdrawals $29,000 Debit income Summary $25,000 credit Owner Capital $29,000 O Credit Owner Capital $29,000; debit Owner Withdrawals $29,000 Debit Owner Capital $29,000 crede Income Summary $29,000

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