Using the information in Ex 5-26 on page 373 and 374, what would be the entry to close out those temporary accounts with credit balances - journal entry #1 in the closing journal entries process? Select one: O a. Dr. Sales $38,200 and Cr. Income Summary $38,200 O b. Dr. Inventory $6,600, Dr. Purchase Discounts $37, Dr. Purchase Returns & Allowances $110, Dr. Sales $38,200 and Cr. Income Summary $44,947 O c. Dr. Purchase Discounts $37, Dr. Purchase Returns & Allowances $110, Dr. Sales $38,200 and Cr. Income Summary $38,347 d. Dr. Inventory $2,550, Dr. Purchase Discounts $37- Dr. Purchase Returns 8. Allowances $110, Dr. Sales $38,200 and Cr. Income Summary $40,897