MWM Corporation earned revenues of $337000, incurred expenses of $202000, and paid dividends of $42500....

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Accounting

MWM Corporation earned revenues of $337000, incurred expenses of $202000, and paid dividends of $42500. When Income
Summary is closed to Retained Earnings, the amount of the debit or credit to Retained Earnings is a
credit of $92500.
debit of $135000.
debit of $92500.
credit of $135000.
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