question 6

Page 1 1 2 3 Question 6 11 point) 41 Lisen 4 5 6 ZYX company has $5,000 in revenue $2,000 in organization expenses and 51.500 in dividends. What is the entry to close out income summary? 7 8 1 Debit retained earnings 3,000 and credit dividends $3,000 10 11 12 Debit income summary $5.000 and credit revenue $5,000 I 13 14 15 None of the answer choices are correct Debit revenue 55.000 and credit income summary 55,000 Debit income summary $3.000 and credit retained earnings $3,000 Question 7 (1 point) Li If current assets are $200.000 and current liabilities are 540.000, what is current