A firm had revenues of $380,000, expenses of $210,000, and dividends of $18,000 Which of the following is TRUE when the firm closed out its revenues and expenses? It should debit "Income summary" and credit "Expenses" by $210,000. It should debit "Retained earnings and credit "Revenues by $380,000. It should debit "Expenses" and credit "Retained earnings" by $ 210,000. It should debit "Income summary" and credit "Revenues" by $380,000