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uestion (3 points) A firm had revenues of $415,000, expenses of $180,000, and dividends of $33,000. Which of the following is TRUE when the firm

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uestion (3 points) A firm had revenues of $415,000, expenses of $180,000, and dividends of $33,000. Which of the following is TRUE when the firm closed out its revenues and expenses? It should debit "Expenses" and credit "Income summary" by $180,000. It should debit "Retained earnings" and credit Revenues" by $415,000. O It should debit "Expenses" and credit "Retained earnings" by $ 180,000. It should debit "Revenues" and credit "Income summary" by $415,000

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