Question: Multiple Choice Question 236 The following information is from the Income Statement of the Sunland Laundry Service: Revenues Service Revenues $6240 Expenses Salaries and wages
Multiple Choice Question 236 The following information is from the Income Statement of the Sunland Laundry Service: Revenues Service Revenues $6240 Expenses Salaries and wages expense 2350 Advertising expense Rent expense Supplies expense Insurance expense Total expenses 480 290 190 100 410 Net income $2830 The entry to close the Income Summary includes a: O credit to Common Stock for $2830 O debit to Income Summary for $2830. credit to Income Summary for $2830 O debit to Retained Earnings for $2830
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