Question: Can you help me solve this general accounting question using the correct accounting procedures? A company reported the following financial data for the current period:

Can you help me solve this general accounting question using the correct accounting procedures?

A company reported the following financial data for the current period: e Service Revenue: $275,000 Rent Expense: $12,000 e Utility Expense: $4,200 e Salary Expense: $22,000 Depreciation Expense: $10,500 e Advertising Expense: $5,300 Determine the balance in the income summary account before it is closed for the period. A. $225,500 B. $221,000 C. $230,200 D. $218,700

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