Question: Multiple Choice Question 255 The following information is from the Income Statement of Vaughn's Lawn Service for the quarter ending September 2022: Service Revenue

Multiple Choice Question 255 The following information is from the Income Statement

Multiple Choice Question 255 The following information is from the Income Statement of Vaughn's Lawn Service for the quarter ending September 2022: Service Revenue $4000 Expenses Salaries and Wages expense $2100 Supplies expense 410 Insurance expense Total expenses 170 Net Income 2680 $1320 A The balance in Retained Earnings at July 1 was $3900. Vaughn's distributed dividends of $3300 during the period. Which of the following is not one of the closing entries that the company will make? Debit Retained Earnings for $3300, Credit Dividends for $3300 Debit Service Revenue $4000, Credit Income Summary for $4000 Debit Income Summary for $4000, Credit Retained Earnings for $4000 Debit Income Summary for $1320, Credit Retained Earnings for $1320

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