ncome Summary has a credit balance of $12,000 in J. Sawyer Co. after closing revenues and expenses. The entry to close Income Summary is
a. credit Income Summary $12,000, debit Retained Earnings $12,000.
b. credit Income Summary $12,000, debit Dividends $12,000.
c. debit Income Summary $12,000, credit Dividends $12,000.
d. debit Income Summary $12,000, credit Retained Earnings $12,000.
a. credit Income Summary $12,000, debit Retained Earnings $12,000.
b. credit Income Summary $12,000, debit Dividends $12,000.
c. debit Income Summary $12,000, credit Dividends $12,000.
d. debit Income Summary $12,000, credit Retained Earnings $12,000.