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End of year records for Ashley's Florist show: $ Inventory100 Electricity payable20 Rent expense55 Sales250 Discount allowed15 Purchases returns and allowances8 Interest income33 Discount received11

End of year records for Ashley's Florist show:

$

Inventory100

Electricity payable20

Rent expense55

Sales250

Discount allowed15

Purchases returns and allowances8

Interest income33

Discount received11

Selling expenses42

During the closing process the credit to the Profit or Loss Summary account would be:

Select one:

a.$112

b.$250

c.$261

d.$302

e.None of the above

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