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The income statement for the month of June, 2015 of Camera Obscura Enterprises contains the following information Revenues $7,000 Expenses: Salaries and Wages Expense $3,000
The income statement for the month of June, 2015 of Camera Obscura Enterprises contains the following information Revenues $7,000 Expenses: Salaries and Wages Expense $3,000 Rent Expense 1,500 Advertising Expense 800 Supplies Expense 300 Insurance Expense 100 Total expenses 5,700 Net income $1,300 The entry to close the revenue account includes a O debit to Income Summary for $7,000 credit to Income Summary for $1,300 credit to Income Summary for $7,000 O debit to Income Summary for $1,300
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