Question: Jontil Co. began the current period with a ( $ 14,000 ) balance in the Peter Jontil, Capital account. At the end of the period,

$Jontil Co. began the current period with a \\( \\$ 14,000$

Jontil Co. began the current period with a \$ \\$ 14,000 \$ balance in the Peter Jontil, Capital account. At the end of the period, the companys adjusted account balances include the following temporary accounts with normal balances: a. After closing the revenue and expense accounts, what will be the balance of the Income Summary account? b. After all of the closing entries are journalized and posted, what will be the balance of the Peter Jontil, Capital account

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