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is this the correct answer? The following information is from the Income Statement of the Dirt Poor Laundry Service: Revenues Service Revenues $5,500 Expenses Salaries
is this the correct answer?
The following information is from the Income Statement of the Dirt Poor Laundry Service: Revenues Service Revenues $5,500 Expenses Salaries and Wages $1,950 500 300 200 100 expense Advertising expense Rent expense Supplies expense Insurance expense Total expenses 3,050 $2,450 Net income The entry to close the Income Summary includes a: debit to Income Summary for $2,450 O debit to Retained Earnings for $2,450 credit to Income Summary for $2,450 credit to Common Stock for $2,450Step by Step Solution
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