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The income statement for the month of June, 2016 of Snap Shot, Inc. contains the following information: Revenues $7, 300 Expenses: Salaries and Wages Expense
The income statement for the month of June, 2016 of Snap Shot, Inc. contains the following information: Revenues $7, 300 Expenses: Salaries and Wages Expense $3,000 Rent Expense 1, 300 Advertising Expense 700 Supplies Expense 200 Insurance Expense 100 Total expenses 5.300 Net income $2,000 the entry to close the revenue account includes a credit to Income Summary for $2,000. credit to Income Summary for $7, 300. debit to Income Summary for $2,000. debit to Income Summary for $7, 300
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