Frog Corporation had revenues of $300,000, expenses of $200,000, and dividends of $45,000.When Income Summary is closed to Retained Earnings, the amount of the debit or credit to Retained Earnings is a

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Income Summary is closed to Retained Earnings for the purpose of transferring net income or loss to the owners' equity account. In this case, Frog Corporation had revenues of $300,000 and expenses of $200,000, which results in net income of $100,000 ($300,000 - $200,000). However, the company also paid dividends of $45,000, which reduces the amount of net income retained by the company. Therefore, the credit to Retained Earnings would be $55,000 ($100,000 - $45,000), which means that the answer is C.

Frog Corporation Had Revenues of $300,000, Expenses of $200,000, and Dividends