For the year ended December 31, a company had revenues of $194,000 and expenses of $116,400. $38,800 in dividends were paid during the year. Which of the following entries could not be a closing entry?

Multiple Choice

• Debit Income Summary $194,000; credit Revenues $194,000.

• Debit Income Summary $77,600; credit Retained earnings $77,600.

• Debit Retained earnings $38,800; credit Dividends $38,800.

• Debit Income Summary $116,400; credit Expenses $116,400.

• Debit Revenues $194,000; credit Income Summary $194,000.