Arwa Company has the following balances in selected accounts of its adjusted trial balance at December 31, 2020: $20,000 Rent revenue Advertising Expense Sales exponse Uties expense Not income 55,000 $4,000 56.000 $5,000 What is the balance for the income Summary after all closing entries have been made Select one: a $5,000 credit b. $15,000 credit c. All choices are incorrect d. $5.000 debit On January 2, Ahekma Company acquired supplies costing $6,000 and recorded this transaction by debiting supplies and crediting cash for the full amount. At the end of January, Athekma performed a physical count of supplies and found that $4,000 of supples were still available on hand. The adjusting entry to record the transaction at the end January would be Select one Debit supplies $2,000 and credit supplies expense $2,000 b. Debit supplies 56,000 and credit cash $6.000 c. Debit cash $6,000 and credit supplies d Debit supplies expense $2,000 and credit supplier $2.000 ises Jump to... Next page HANDOUT 7