Solution-Briefly explain the purpose served by the income

Briefly explain the purpose served by the income summary

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Reference no: EM131122087

1. Prior to its closing, Income Summary had total debits of $432,200 and total credits of $572,600. Briefly explain the purpose served by the income summary account and the nature of the entries that resulted in the $432,200 and the $572,600.

Reference no: EM131122087

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Briefly explain the purpose served by the income summary : Prior to its closing, Income Summary had total debits of $432,200 and total credits of $572,600.

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Briefly explain the purpose served by the income summary

Reference no: EM131122087

Reference no: EM131122087

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