Question: Close Income Summary. (Prepare a single compound journal entry.) Date Accounts and Explanation Debit Credit Nov. 30 Land, Capital 7,875 Olay, Capital 2,625 Tabb, Capital

Close Income Summary. (Prepare a single compound journal entry.) Date Accounts and Explanation Debit Credit Nov. 30 Land, Capital 7,875 Olay, Capital 2,625 Tabb, Capital 10,500 Income Summary 21,000 To close Income Summary

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