Fiddle Inc. has finished its fiscal year and just published all its financial statements. Its expense accounts total $130,000, and its revenue accounts total $190,000. The closing journal entry to close the Income Statement accounts for the year should be: Multiple Choice debit its various expense accounts for a total of $130,000, credit its various revenue accounts for a total of $190,000, and credit retained earnings for $60,000. debit its various revenue accounts for a total of $190,000, debit retained earnings for $60,000, and credit its various expense accounts for a total of $130,000. debit its various expense accounts for a total of $130,000, debit retained earnings for $60,000, and credit its various revenue accounts for a total of $190,000. debit its various revenue accounts for a total of $190,000, credit retained earnings for $60,000, and credit its various expense accounts for a total of $130,000.