The following information is available for Brendon Company before closing the accounts. What will be the amount in the Income Summary account that should be closed to Brendon, Capital? J. Brendon, Capital$120,000?J. Brendon, Withdrawals 36,500?Fees earned 200,000?Depreciation Expense-Equipment 13,000?Wages expense 76,000?Interest expense 3600?Insurance expense 12,600?Rent expense 26,000?
A. $43,500.
B. $83,500.
C. $45,300.
D. $68,800.
E. $32,300.
Answer: D
Business
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