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The following information is from the Income Statement of Crane's Lawn Service for the quarter ending September 2022: Service Revenue $4000 Expenses Salaries and Wages
The following information is from the Income Statement of Crane's Lawn Service for the quarter ending September 2022: Service Revenue $4000 Expenses Salaries and Wages expense $2000 400 100 Supplies expense Insurance expense Total expenses Net Income $1500 The balance in Retained Earnings at July 1 was $3000. Crane's distributed dividends of $1500 during the period. Which of the following is not one of the closing entries that the company will make? Debit Retained Earnings for $1500, Credit Dividends for $1500 Debit Income Summary for $4000, Credit Retained Earnings for $4000 Debit Service Revenue $4000, Credit Income Summary for $4000 Debit income Summary for $1500, Credit Retained Earnings for $1500
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