For the Year Ended December 31
	Adjusted Trial Balance		Income Statement		Balance Sheet
Account Title	Debit	Credit	Debit	Credit	Debit	Credit
Cash	16,000				16,000
Accounts Receivable	6,000				6,000
Supplies	2,000				2,000
Equipment	19,000				19,000
Accumulated Depr.		6,000				6,000
Accounts Payable		10,000				10,000
Wages Payable		2,000				2,000
Common Stock		5,000				5,000
Retained Earnings		8,004				8,004
Dividends	1,000				1,000
Fees Earned		44,669		44,669
Wages Expense	21,425		21,425
Rent Expense	6,067		6,067
Depreciation Expense	4,181		4,181
Totals	75,673	75,673	31,673	44,669	44,000	31,004
Net Income (Loss)			12,996			12,996
			44,669	44,669	44,000	44,000

The journal entry to close revenues and expenses would involve:

a.debits to the expense accounts and credits to Retained Earnings and Fees Earned

b.a debit to Fees Earned and credits to the expense accounts and Retained Earnings

c.debits to Fees Earned and Retained Earnings and credits to the expense accounts

d.debits to the expense accounts and Retained Earnings and a credit to Fees Earned