A company's ledger accounts and their end-of-period balances before closing entries are posted are shown below. What amount will be posted to Wilson Peters, Capital in the process of closing the Income Summary account? (Assume all accounts have normal balances.) Wilson Peters, Capital$5250?Wilson Peters, Withdrawals 7350?Revenue 21,000?Rent expense 2100?Salaries expense 5000?Insurance expense 235?Depr. Expense-equipment 320?Accum depr.-equipment 960?
A. $5995 credit.
B. $5995 debit.
C. $13,345 credit.
D. $14,305 credit.
E. $13,345 debit.
Answer: C
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