QUESTION 31 Shores Sports rents canoes and kayaks. Below is the adjusted trial balance at December 31. Debit Credit Cash 1,500 Accounts Receivable 2,000 100 1,600 Interest Receivable Prepaid Insurance Notes Receivable (Long-Term) 2,800 15,000 Equipment 3,000 Accumulated Depreciation Accounts Payable 2,400 3,920 Accrued Expenses Payable 2,700 Income Taxes Payable 500 Unearned Rent Fees 7,700 Common Stock Dividends 2,000 37,000 Rental Revenue Rental Revenue 37,000 1,300 Service Revenue 19,000 Wages Expense 1,800 Depreciation Expense Utilities Expense 320 Insurance Expense 700 Maintenance Expense Income Tax Expense 9,000 2,700 58,520 58,520 The entry required to close the revenue and expense accounts at the end of the period includes a a. credit to Retained Earnings for $4,780 b.credit to Retained Earnings for $38,300 c. debit to Retained Earnings for $4,780 d. debit to Retained Earnings for $38,300