Current Attempt in Progress The income statement for the year 2021 of Culver Co. contains...
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Accounting
Current Attempt in Progress The income statement for the year 2021 of Culver Co. contains the following information: $69000 $47200 11800 10200 Revenues Expenses: Salaries and Wages Expense Rent Expense Advertising Expense Supplies Expense Utilities Expense Insurance Expense Total expenses Net income (loss) 5500 2300 1800 78800 $(9800) The entry to close Income Summary to Retained Earnings includes a debit to Revenue for $69000. a credit to Income Summary for $9800. a credit to Retained Earnings for $9800. credits to Expenses totalling $78800
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