Reference no: EM132487968

he income statement for the month of June, 2016 of Snap Shot, Inc. contains the following information:

Revenues                                  $7,300

Expenses:

Salaries and Wages Expense          $3,000

Rent Expense                               1,300

Advertising Expense                          700

Supplies Expense                              200

Insurance Expense                            100

Total expenses                               5,300

Net income                                   $2,000

Question 1: Prepare The entry to close the revenue account includes a

a. debit to Income Summary for $2,000.

b. credit to Income Summary for $2,000.

c. debit to Income Summary for $7,300.

d. credit to Income Summary for $7,300.