17.The income statement for the month of June, 2013 of Camera Obscura Enterprises contains the following information:

IT The income statement for the month of June, 2013 of Camera Obscura Enterprises contains the following information:e Revenues Expenses: Salaries and Wages Expense Rent Expense Advertising Expense Supplies Expense Insurance Expense Total expenses Net income The entry to close the revenue account includes ae a. debit to Income Summary for $1800. b. credit to Income Summary' for $1 7800. c debit to Income Summary for $7000. d. credit to Income Summary for $7,000. 18An intangible assete $7,oooe $3,oooe 300e 1 ooe 5 200e derives its value from the rights and privileges it provides the owner_e a. b. is worthless because it has no physical substance is convened into a tangible asset during the operating cycle c d. cannot be classified on the balance sheet because it lacks physical substance AAcss: AICPA BE: AICPA EN: Reporting, AICPA pc: N WA: Repodingo