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The income statement for the month of June, 2020 of Snap Shot, Inc. contains the following information: Revenues Expenses: $7,300 Salaries and Wages Expense $3,000
The income statement for the month of June, 2020 of Snap Shot, Inc. contains the following information: Revenues Expenses: $7,300 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 expense accounts includes a O credit to Income Summary for $5,300. credit to Rent Expense for $1,300. debit to Salaries and Wages Expense for $3,000. debit to Income Summary for $2,000
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