Determine closing process

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Question 1: Determine In the closing process, Owner Capital was debited for $49,850 and credited for $78,200. The company hasa.

Option a. incurred a net loss of $49, 850.

Option b. earned net income of $28,350.

Option c. earned a net income of $78,200.

Option d. incurred a net loss of $28,350.

Reference no: EM132479541

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