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Under what circumstances can the closing of the income summary account result in a debit to one partner's capital account and credits to the other partners' capital accounts?a. The results of operations are divided in a profit and loss ratio, and the partnership sustained a loss for the period.b. The results of operations are allocated in a profit and loss ratio, and the partnership's net income was very low.c. The results of operations are divided in the average capital ratio, and one partner h
Under what circumstances can the closing of the income summary ac…
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