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The records of Asda Corporation show that the retained earnings account has a credit belance of $17,000 before closing enees are made total reverses
The records of Asda Corporation show that the retained earnings account has a credit belance of $17,000 before closing enees are made total reverses for the period are $26000 $32.000 $4,000, what is the closing entry to close the income summery account? Debit Income summary $6,000; credit Retained eamings. $6,000 Debit Income summary $7,000, credit Retained earnings. $7,000. Debit Retained earnings $4,000, credit Dividends, $4,000. Debit Retained eamings $6,000, credit Income summary $6.000
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