To what account is the balance in the Income summary account closed?
A)The Capital account
B)The Drawings account
C)The Profit account
D)The Revenue account

Name: To what account is the balance in the Income summary account closed? A)The Capital account B)The Drawings account C)The Profit account D)The Revenue account
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The balance in the Income Summary account is closed to the Capital account to update the owner's equity with the net income or loss for the period.

To What Account Is the Balance in the Income Summary