Test+1 Smad Help Save & Ex 17 The Retained earnings account has a credit balance of $48,000 before closing entries are made. Total revenues for the period are $66,200, total expenses are $45,300, and dividends are $13,400. What is the correct closing entry for the expense accounts? an Multiple Choice Debit Expense accounts $48,000 credit Retained earnings $48.000 Credit Expense accounts $45.300; debit Retained earnings $45.300 Debit Income Summary $45.300: credit Retnined earnings $45.300 Debit Income Summary $45,300, credit Expense accounts 545.300 Debit Expense accounts 545 300 credit Income Summary $45.300