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MC9 Ranga Inc. had revenues of $20,000 and total expenses of $9,000 for the year. Which statement is correct regarding the entry used to close
MC9 Ranga Inc. had revenues of $20,000 and total expenses of $9,000 for the year. Which statement is correct regarding the entry used to close the revenue account for Ranga Inc.? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a We would debit Revenue $20,000 and credit Income Summary $9,000 b We would debit Revenue $20,000 and credit Income Summary $20,000 C We would debit Income Summary $20,000 and credit Revenue $20,000 d We would debit Income Summary $9,000 and credit Revenue $20,000
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