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Use the following account balances from the adjusted trial balance columns of RB Auto's worksheet to answer below question. Account Debit Balance Credit Balance Cash

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Use the following account balances from the adjusted trial balance columns of RB Auto's worksheet to answer below question. Account Debit Balance Credit Balance Cash 20, 500 Merchandise Inventory 1, 090 Accounts Payable 2, 800 R. Holloway, Drawing 500 R. Holloway, Capital 13, 000 Sales 15, 000 Purchases 2, 000 Purchase Returns and Allowances 200 Rent Expense 3, 000 Salaries Expense 4, 000 Select the closing entry that RB Auto would make at the end of the accounting period to close their revenue accounts and income sta with credit balances. Multiple Choice O debit Sales and credit Income Summary for $15,000. O debit Sales $15,000; debit Purchase Returns and Allowances $200 and credit Income Summary for $15,200.

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