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19. The income statement for the year 2019 of Golden Company contains the following information: Revenues ..$150,000 Expenses: Wages Expense $75,000 Rent Expense... 42,000 Advertising

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19. The income statement for the year 2019 of Golden Company contains the following information: Revenues ..$150,000 Expenses: Wages Expense $75,000 Rent Expense... 42,000 Advertising Expense........ 9,000 Supplies Expense.... 120,000 Utilities Expense...... Insurance Expense ...8,000 Total expenses. 160,500 ..........6,500 Net income (loss).... $(10,500) The entry to close the expense accounts includes a * (2 points) debit to Income Summary for $10.500. Credit to Income summary for 160.500, debit to Income Summary for $160.500 credit to Income Summary for $10.500

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