Rosewood Inc.earned revenues of $15,000 and incurred expenses of $9,000.The company declared and paid cash dividends of $3,000.
-What is the balance in the Income Summary account after closing net income or loss to the Retained Earnings account?
A) debit balance of $15,000
B) credit balance of $9,000
C) credit balance of $6,000
D) balance of $0
Correct Answer:
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