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The income statement for the month of June, 2021 of Shamrock Enterprises contains the following information: Revenues $6880 Expenses: Salaries and Wages Expense $3140
The income statement for the month of June, 2021 of Shamrock Enterprises contains the following information: Revenues $6880 Expenses: Salaries and Wages Expense $3140 Rent Expense 1470 Advertising Expense 830 Supplies Expense 270 Insurance Expense 110 Total expenses 5820 Net income $1060 The entry to close Income Summary to Retained Earnings includes O a credit to Retained Earnings for $1060. a debit to Revenues for $6880. O a credit to Income Summary for $1060. O credits to Expenses totalling $5820.
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