If on 31 Dec Revenue= $5,000 and the expenses are the following (wages expense = $2,000, rent expense = $500 and advertising expense is $200),drawing = $1,000 give the required closing entry for income summary.

Group of answer choices

31 Dec Dr. Revenue $5,000, Cr Expenses $2,700

31 Dec Dr capital, Cr Income summary $2.700

31 Dec Dr Capital, Cr Income Summary $2,300

31 Dec Dr income summary, Cr Capital $2,300

31 Dec Dr Capital, Cr Drawing $1,000