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A company's ledger accounts and their end-of-period balances before closing entries are posted are shown below. What amount will be posted to Retained earnings in
A company's ledger accounts and their end-of-period balances before closing entries are posted are shown below. What amount will be posted to Retained earnings in the process of closing the Income Summary account? (Assume all accounts have normal balances.) Retained earnings Dividends Services Rent expense Salaries expense. Insurance expense $5,750 8,050 23,000 2,300 5,450 260 Depreciation expense-equipment 360 Accumulated depreciation-equipment 1,080 $20,380 credit. O $14,630 credit. O $14,630 debit. O $15,710 credit. O $6,580 credit
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