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The following information is from the Income Statement of the Bonita Laundry Service: Revenues Service Revenues Expenses $7410 Salaries and wages expense $ 2790 570
The following information is from the Income Statement of the Bonita Laundry Service: Revenues Service Revenues Expenses $7410 Salaries and wages expense $ 2790 570 340 Advertising expense Rent expense Supplies expense Insurance expense Total expenses Net income 230 110 4040 $3370 The entry to close the expense accounts includes a: O credit to Retained Earnings for $4040. O debit to Salaries and Wages Expense for $2790. O credit to Income Summary for $4040. O debit to Income Summary for $4040
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