Question 9 Not yet saved The Retained Earnings account of Roy Ltd. has a credit balance of $28,000 before closing entries are made. Total revenues for the period are $65,800, total expenses are $25,400, and dividends are $7,000. What is the correct closing entry for the expense accounts? Marked out of 1.00 P Flag question O a. Debit Retained Earnings $25,400; credit Expense accounts $25,400. O b. Debit Profit or loss summary $25,400; credit Expense accounts $25,400. Oc Debit Expense accounts $32,400, credit Retained Earnings 532,400 Od Debit Expense accounts 540,400, credit Profit or loss summary $40,400