The Income Statement for the Month of June, 2014 of Taylor

question 4

Multiple Choice

The income statement for the month of June, 2014 of Taylor Enterprises contains the following information: The entry to close the expense accounts includes a

• A) debit to Income Summary for ₤3,900.
• B) credit to Rent Expense for ₤1,500.
• C) credit to Income Summary for ₤4,100.
• D) debit to Salaries and Wages Expense for ₤2,000.

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