Question

Humana had the following account balances at December 31, 2023: Account Balance Sales Revenue $179,200 Accounts Receivable 11,500 Accounts Payable 2,100 Rent Expense 4,900 Unearned Revenue 1,000 Depreciation Expense 14,000 Salaries Expense 25,900 Salaries Payable 1,100 Retained Earnings, January 1, 2023 14,000 Dividends 5,600 Advertising Expense 3,600 Cost of Goods Sold 64,700 The entry to close the Income Summary account to Retained Earnings would include a debit for: Select one:

a. $80,100
b. $66,100
c. $52,100
d. $130,800
e. $60,500

Answer 1

The entry to close the Income Summary account to Retained Earnings would include a debit for $80,100.

Step-by-step explanation:

The entry to close the Income Summary account to Retained Earnings would include a debit for $80,100.