After preparing and posting the closing entries for revenues and expenses, the income summary account has a debit balance of $23,000 The entry to close the income summary account will be 37 Multiple Choice Debit Dividends $23,000 credit Income Summary $23,000. Debit Income Summary $23,000, credit Retained eamings $23,000 O Debit Income Summary $23,000 credit Dividends $23,000. b Credit Retained earnings $23,000, debit Dividends $23,000 After preparing and posting the closing entries for revenues and expenses, the income summary account has a debit balance of $23,000 The entry to close the income summary account will be 37 Multiple Choice Debit Dividends $23,000 credit Income Summary $23,000. Debit Income Summary $23,000, credit Retained eamings $23,000 O Debit Income Summary $23,000 credit Dividends $23,000. b Credit Retained earnings $23,000, debit Dividends $23,000