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65. The income statement for the month of June, 2015 of Camera Obscura Enterprises contains the following information: $7,000 Revenues Expenses: Salaries and Wages Expense
65. The income statement for the month of June, 2015 of Camera Obscura Enterprises contains the following information: $7,000 Revenues Expenses: Salaries and Wages Expense Rent Expense Advertising Expense Supplies Expense Insurance Expense Total expenses Net income $3,000 1,500 800 300 100 5,700 $1.300 The entry to close Income Summary to Retained Earnings includes A) a credit to Retained Earnings for $1,300. B) a credit to Income Summary for $1,300 C) a debit to Revenues for $7,000. D) credits to Expenses totalling $5,700
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