Shown below is an adjusted trial balance for Novelty Toys, Incorporated, on December 31, Year 1:

Novelty Toys, Incorporated
Adjusted Trial Balance
December 31, Year 1
	Debit	Credit
Cash	$ 7,750
Accounts Receivable	6,375
Office Equipment	11,250
Accumulated Depreciation		$ 3,000
Accounts Payable		3,875
Capital Stock		11,250
Retained Earnings		-0-
Dividends	3,750
Fees Earned		22,750
Salaries Expense	8,000
Advertising Expense	1,625
Depreciation Expense	2,125
Totals	$ 40,875	$ 40,875

The entry to close the Fees Earned account will:

Multiple Choice

• Produce a zero balance in that account when posted.

• Include a debit to Income Summary.

• Include a credit to Fees Earned.

• Include a debit to Capital Stock.