Question: Test: F:4 Practice Test Submit Tes This Question: 1 pt 4 of 6 (4 completo) This Test: 6 pts possib Lee Insurance Agency started the

 Test: F:4 Practice Test Submit Tes This Question: 1 pt 4

Test: F:4 Practice Test Submit Tes This Question: 1 pt 4 of 6 (4 completo) This Test: 6 pts possib Lee Insurance Agency started the year with a beginning Loo, Capital balance of $30,000. During the year, Leo Insurance Agency earned $41,000 of Service Revenue and incurred $25.500 of various expenses. Loe withdrew $14,000 from the business. After the closing entries are recorded and posted, what will be the balance of Loo, Capital Post the beginning balance and closing entry amounts to the Capital account. Use a "Bal." posting reference to show the beginning and ending balance of the Capital account. Use a "Clos. " posting reference to show the amounts that are posted while dosing the books. The revenue and expense amounts should be combined into one closing entry for not income like you are closing the income Summary account) Lee, Capital

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