The Following Information Is from the Income Statement of the Dirt

question 210

Multiple Choice

The following information is from the Income Statement of the Dirt Poor Laundry Service: The entry to close the Income Summary includes a:

• A) credit to Income Summary for $2,450.
• B) debit to Income Summary for $2,450.
• C) debit to Retained Earnings for $2,450.
• D) credit to Common Stock for $2,450.