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 $41,000 and credit Capital $41,000. debit Capital $47,000 and credit Income Summary $47,000. debit Income Summary $6,000 and credit Capital $6,000. debit Capital solutionspile.com

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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 $41,000 and credit Capital $41,000.  debit Capital $47,000 and credit Income Summary $47,000.  debit Income Summary $6,000 and credit Capital $6,000.  debit Capital $6,000 and credit Income Summary $6,000.    solutionspile.com

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