The following normal balances appear in Eaton Company's general ledger: Revenues: Wages Expense: Utilities Expense: $40,000 $25,000 $1,650 Insurance Expense: $3,870 In the first closing entry, Retained Earnings will be credited for Oa. $31,020. O b. $25,500. O c. $47,000. O d. $15,980.

The following normal balances appear in Eaton Company's general ledger: In the first closing entry, Retained Earnings will be credited for a. $31,020. b. $25,500. c. $47,000. d. $15,980. The following normal balances appear in Eaton Company's general ledger: In the first closing entry, Retained Earnings will be credited for a. $31,020. b. $25,500. c. $47,000. d. $15,980