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please select correct answer and give explanation, my choice may not be right TB MC Qu. 03-285 (Algo) The Retained earnings account... The Retained earnings
please select correct answer and give explanation, my choice may not be right
TB MC Qu. 03-285 (Algo) The Retained earnings account... The Retained earnings account has a credit balance of $57,000 before closing entries are made. Services revenue for the period is $75,200, wages expense is $49,800, and dividends are $17,000. What is the correct closing entry for the revenue accounts? Multiple Choice Debit Income Summary $57,000, credit Retained Earnings $57.000 O Debit income come Summary $75,200, credit Services Revenue 575.200. Debit Services Revenue $75.200, credit retained Earnings $57,000. Debit Services Revenue $57,000, credit Retained Earnings $57,000 Debit Services Revenue $75,200, credit Income Summary $75.200 Step by Step Solution
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