If a business has a Fees Earned account with a balance of $40,000 and a Commissions Earned account with a $50,000 balance, the closing entry needed to close these accounts will require a journal entry that will:
a. debit the Income Summary account for $90,000.
b. credit the Income Summary account for $90,000.
c. credit the Commissions Earned account for $40,000.
d. credit the Commissions Earned account for $50,000.
e. credit the Income Summary account for $40,000.
b
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