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The first two closing entries to the Income Summary account indicate a debit of $47,000...

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Accounting

The first two closing entries to the Income Summary account indicate a debit of $47,000 and a credit of $41,000. The third closing entry would be:

Multiple Choice

  • debit Income Summary $6,000; credit Drawing $6,000

  • debit Capital $6,000; credit Income Summary $6,000

  • debit Income Summary $47,000; credit Capital $47,000

  • debit Income Summary $41,000; credit Expenses $41,000

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