Question $31$

$3pts$

What does Closing Entry #$1($close revenues$)$ include, based on the trial balance below for the year ending December $31,2018?$

$\backslash$table$[[$Account$,$Debit,$],[$Cash$,96,000,],[$Accounts Receivable,$17,500,],[$Trucks$,172,000,],[$Accumulated Depreciation,,$],[$Accounts Payable,$36,000,],[$Wages Payable,$20,000,],[$K$.$ Wilson, Capital,$65,000,],[$K$.$ Wilson, Withdrawals,$61,000,],[$Trucking Fees Earned,$23,500,],[$Wages Expense,$20,000,],[$Depreciation Expense,$175,000,],[$Other Expenses,$130,000,]]$

Credit to Income Summary of $$130,000$

Debit to Income Summary of $$130,000$

Cred$$t to K$.$ Wilson, Capital of $$130,000$

Credit to Trucking Fees Earned of $$130,000$