Argosy Company began the current period with a $14,000 creditbalance in the D. Argosy, Capital account. At the end of theperiod, the company's adjusted account balances include thefollowing temporary accounts with normal balances.

Argosy Company began the current period with a $14,000 creditbalance in the D. Argosy, Capital account. At the end of theperiod, the company's adjusted account balances include thefollowing temporary accounts with normal balances.

Service fees earned $ 35,000 Interest revenue $ 3,500

Salaries expense 19,000 D. Argosy, Withdrawals 6,000

Depreciation expense 4,000 Utilities expense 2,300

After closing the revenue and expense accounts, what will be the balance of the Income Summary account?

After all closing entries are journalized and posted, what will be the balance of the D. Argosy, Capital account?

                                    

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