After posting the entries to close all revenue and expense accounts, Marker Company's Income Summary account has a credit balance of $9,200, and its Marker, Withdrawals account has a debit balance of $4,100. These balances indicate that net income for the current accounting period amounted to $5,100.
a. True
b. False
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Home » Business » After posting the entries to close all revenue and expense accounts, Marker Company's Income Summary account has a credit balance of $9,200, and its Marker, Withdrawals account has a debit balance of $4,100.