Use this end$-$of$-$period spreadsheet to answer the question that follow.

Finley Company

End$-$of$-$Period Spreadsheet

For the Year Ended December $31$

$\backslash$table$[[,$Adjusted T$,$al Balance,Incom,Statement,Balance,Sheet$],[$Account Title,Debit,Credit,Debit,Credit,Debit,Credit$],[$sh$,48,000,,,,48,000,],[$Accounts Receivable,$18,000,,,,18,000,],[$Supplies$,6,000,,,,6,000,],[$Equipment$,57,000,,,,57,000,],[$Accumulated Depr.,,$18,000,,,,18,000],[$Accounts Payable,,$25,000,,,,25,000],[$Wages Payable,$x,6,000,,,,6,000],[$Common Stock,,$30,000,,,,30,000],[$Retained Earnings,$\sqrt[\phantom{2}]{14},3,000,,,,3,000],[$Dividends$,3,000,,,,3,000,],[$ees Earned,,$155,000,($x$)$y$,155,000,,],[$Wages Expense,$63,000,,63,000,14,,],[$int Expense,$27,000,,27,000,,,],[$Depreciation Expense,$15,000,,15,000,,,],[,237,000,237,000,105,000,155,000,132,000,82,000],[$ncome$,,,50,000,,$Whe,$50,000],[,,,155,000,155,000,132,000,132,000]]$

The journal entry to close revenues and expenses would involve

a$.$ debits to the expense accounts and Retained Earnings and a credit to Fees Earned

b$.$ debits to the expense accounts and credits to Retained Earnings and Fees Earned

c$.$ debits to Fees Earned and Retained Earnings and credits to the expense accounts

d$.$ a debit to Fees Earned and credits to the expense accounts and Retained Earnings