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Question(s) / Instruction(s):

A company had revenues of $75,000 and expenses of $62,000 for the accounting period. Which of the following entries could not be a closing entry? A) Income Summary 13,000 Owner’s Capital 13,000 B) Income Summary 75,000 Revenues 75,000 C) Revenues 75,000 Income Summary 75,000 D) Income Summary 62,000 Expenses 62,000

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