The Retained earnings account has a credit balance of $38,000 before closing entries are made. Total revenues for the period are $56,200, total expenses are $40,300, and dividends are $9,400. What is the correct closing entry for the expense accounts? Multiple Choice o Debit Expense accounts $40,300; credit Income Summary $40,300. . Debit Expense accounts $38,000; credit Retained earnings $38,000. Debit Income Summary $40,300; credit Retained earnings $40,300. Debit Income Summary $40,300; credit Expense accounts $40,300. Credit Expense accounts $40,300; debit Retained earnings $40,300