7. Chapter 4 Quiz Value: 1.00 points Abdullah Badran Fall 2020-2021 < Question 7 (of 7) instructions help Save & Exit Submit Time remaining: 0:18:59 The records of Asda Corporation show that the retained earnings account has a credit balance of $17,000 before closing entries are made. If total revenues for the period are $26,000, total expenses are $32.000, and Dividends are $4,000, what is the closing entry to close the income summary account? Debit Retained earnings $6,000; credit Income summary $6,000. O Debit Income summary $7,000; credit Retained earnings, $7,000. Debit Retained earnings $4,000; credit Dividends, $4,000. O Debit Income summary $6,000; credit Retained earnings, $6,000.