Use the following account balances from the adjusted trial balance columns ofGoody Chocolate'sworksheet to answer below question.

Account Debit Balance Credit BalanceCash10,000Merchandise Inventory4,000Accounts Payable2,200A. Goody, Drawing1,000A. Goody, Capital6,000Sales24,000Sales Discounts200Purchases12,000Salaries Expense7,500Income Summary1,5004,000

Using the adjusted trial balance above, select the correct closing entry thatGoody Chocolatewould make to close their revenue accounts (and other temporary income statement accounts with credit balances) at the end of the accounting period.

Multiple Choice

• Income Summary24,200Sales24,000Sales Discounts200
• A. Goody, Capital28,000Income Summary4,000Sales24,000
• Sales24,000Income Summary24,000
• Sales24,000A. Goody, Capital24,000