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Business, 23.12.2021 21:30 colebuug9

The income statement for the month of June, 2021 of Crane Enterprises contains the following information: Revenues $7130
Expenses:
Salaries and Wages Expense $2910
Rent Expense 1490
Advertising Expense 750
Supplies Expense 280
Insurance Expense 110
Total expenses 5540
Net income $1590

The entry to close Income Summary to Retained Earnings includes:

a. credits to Expenses totalling $5540.
b. a credit to Retained Earnings for $1590.
c. a debit to Revenues for $7130.
d. a credit to Income Summary for $1590.

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