Sales Revenue has a balance of $27,000, Sales Discounts Forfeited has a balance of $600, Dividends has a balance of $4,700, and Cost of Goods Sold has a balance of $8,300. In step one of the closing entries, Income summary is: Question content area bottom Part 1 A. credited for $40,600 B. debited for $27,600 C. credited for $27,600 D. debited for $40,600