The income statement for the month of June, 2015 of Camera Obscura Enterprises contains the following information: The entry to close the revenue account includes a
A)debit to Income Summary for $1,300.
B)credit to Income Summary for $1,300.
C)debit to Income Summary for $7,000.
D)credit to Income Summary for $7,000.

Question

The income statement for the month of June, 2015 of Camera Obscura Enterprises contains the following information:  The entry to close the revenue account includes a
A)debit to Income Summary for $1,300. 
B)credit to Income Summary for $1,300. 
C)debit to Income Summary for $7,000. 
D)credit to Income Summary for $7,000.

Quizplus · Accepted Answer

The Answer of The income statement for the month of June, 2015 of Camera Obscura Enterprises contains the following information:  The entry to close the revenue account includes a
A)debit to Income Summary for $1,300. 
B)credit to Income Summary for $1,300. 
C)debit to Income Summary for $7,000. 
D)credit to Income Summary for $7,000.

The Income Statement for the Month of June, 2015 of Camera