The following end$-$of$-$year account balance information is from the accounting records of June Company. Use these data to prepare the closing entries for the year.

Cost of Goods Sold $$9,000$

Accounts Payable $1,100$

Paid$-$in Capital $2,000$

Cash $400$

Sales $10,000$

Dividends $700$

Retained Earnings $($beginning$)1,000$

Inventory $4,000$

Which ONE of the following would appear in the closing entries for the year?

CREDIT to Cost of Goods Sold for $$9,000$

DEBIT to Paid$-$in Capital for $$2,000$

CREDIT to Sales for $$10,000$

DEBIT to Accounts Payable for $$1,100$