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Problem 1: On Flex Company's worksheet the revenue account had a normal balance of $4,100. The entry to close the account would include a
A) debit to Income Summary for $4,100.
B) credit to Income Summary for $4,100.
C) debit to Flex, Capital for $4,100.
D) credit to Revenue for $4,100
Problem 2: After closing entries are posted, what is the balance in the Revenue account?
A) $700
B) $0
C) $300
D) Closing entries do not affect Revenue.
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