Question: S4-6 Epic North Coffee started the year with a beginning capital balance of $20,000. During the year the business earned $40,000 of service revenue and
S4-6 Epic North Coffee started the year with a beginning capital balance of $20,000. During the year the business earned $40,000 of service revenue and incurred $21,000 of expenses. The owner withdrew $8,000 from the business. After the closing entries are recorded and posted, what will be the balance in the Capital account? Capital account balance $31,000
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