question 4

Page 1 1 2 3 Question 4 (1 pointi 4 6 GHI .company has $30,000 in revenue, 532000 in organisation expenses and so in dividends. What is the entry to close out organization expenses? 7 8 9 Debit income summary $32,000 and credit organization expense $32.000 Debit organization expense $32,000 and credit retained earnings $32.000 10 11 12 13 15 None of the answer choices are correct Debit retained earnings $32,000 and credit organisation expense 32.000 Debit organithdon expense 32.000 and credit income summary $32,000 Question 5 (1 point 4 DEF company has 520.000 in revenue, $10,000 in comany expenses and 57.000 in dividends. What is the entry to close out revenues