The following information is from the Income Statement of Waterway Laundry Service: Revenues Service Revenue Expenses Salaries and wages expense Advertising expense Rent expense Supplies expense Insurance expense Total expenses Net Income $8060 $ 3040 620 370 250 120 4400 $3660 The entry to close the expense accounts includes a debit to Salaries and Wages Expense for $3040. debit to Income Summary for $4400 credit to Income Summary for $4400. credit to Retained Earnings for $4400