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Question(s) / Instruction(s):

A company had revenues of $75,000 and expenses of $60,000 for the accounting period. Which of the following entries could not be a closing entry?

A)           Income Summary            15,000  

                    Owner’s Capital                           15,000

B)            Income Summary            75,000  

                    Revenues                       75,000

C)            Revenues            75,000  

                    Income Summary                       75,000

D)           Income Summary            60,000  

                   Expenses                         60,000                    

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