The ledger of Ihab Company contains the following balances: Retained Earnings $120,000; Dividends $8,000; Service Revenue $160,000; Salaries Expense $108,000; Rent Expense $36,000; and interest revenue $30,000. the entry to close expense accounts will include a;

Select one:

Credit to Income Summary for $144,000.

Debit to Income Summary for $144,000.

Debit to Salaries Expense for $108,000.

Debit to Income Summary for $174,000.