Income summary was debited and the revenue account

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Reference no: EM13794770

The entry to close the revenue account(s) was entered in reverse - Income Summary was debited and the revenue account(s) was/were credited, this error will: A) before closing it, Income Summary will have a debit balance. B) the liabilities will be overstated. C) before closing it, Income Summary will have a credit balance. D) the assets will be overstated.

Reference no: EM13794770

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