On December 31,2022 , the balance of the Sales Revenue account is $650,000 and the balance of the Cost of Goods Sold account is $420,000. The company uses a perpetual inventory system. What is the value of the closing entries to transfer the balances of these accounts to the Income Summary account? a. $420,000 debit to Sales Revenue and $650,000 credit to Cost of Goods Sold b. $230,000 debit to Cost of Goods Sold and $230,000 credit to Sales Revenue c. $420,000 debit to Cost of Goods Sold and $650,000 credit to Sales Revenue d. $230,000 debit to Sales Revenue and $230,000 credit to Cost of Goods Sold e. $650,000 debit to Sales Revenue and $420,000 credit to Cost of Goods Sold