The accounts of Mikes Bikes show the following end of year balances:

$

Cash 2000

GST receivable 350

Salaries payable 80

Supplies expense 1500

Interest expense 25

Prepaid rent 300

Salaries expense 4500

Accounts payable 225

During the closing process the total debit to the profit or loss summary account would be:

Question 7 options:

1)

$6 025

2)

$6 350

3)

$6 570

4)

$6 500