For the year ended December 31, a company had revenues of $199,000 and expenses of $119,400. $39,800 in dividends were paid during the year. Which of the following entries could not be a closing entry? Multiple Choice O Debit Revenues $199,000; credit Income Summary $199,000. Debit Income Summary $199,000; credit Revenues $199,000, O Debit Retained earnings $39,800; credit Dividends $39,800 Debit Income Summary $119,400; credit Expenses $119,400. O Debit Income Summary $79,600, credit Retained earnings $79,600. A company purchased $2,100 of merchandise on July 5 with terms 2/10, 1/30. On July 7, it returned $230 worth of merchandise. On July 8, it paid the full amount due. The amount of the cash paid on July 8 equals: Multiple Choice $1,833. A company purchased $3,950 worth of merchandise. Transportation costs were an additional $350. The company returned $270 worth of merchandise and then paid the invoice within the 1% cash discount period. The total cost of th merchandise is: Multiple Choice 53,870.00. $3,822.50. $3,990.50. $3.993.20. $4,030.00. Garza Company had sales of $140,200, sales discounts of $2,100, and sales returns of $3,365. Garza Company's net sales equals: Multiple Choice 55,465. S134,735. $138,100. $140,200. $145,665