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(05.02 MC)
After closing the revenue and expense accounts below, what would the income summary balance be?
Sales: $3,230.00
Advertising Expense:
$765.00
Communications Expense: $150.00
Rent Expense:
$900.00
A credit balance of $1,415.00
A credit balance of $5,045.00
A debit balance of $1,415.00
A debit balance of $5,045.00

Respuesta :

The correct option is A. Revenue accounts include the sales accounts after deducting all the expenses from sales accounts a credit balance of $1,415.00 is shown in the revenue and expense account.

What is Revenue Expenditure?

Revenue Expenditure is such expenditure that is incurred during the normal course of business by the company that generally benefits from that expenditure of a year or less than a year.

Given, Sale =$3230

           Advertising Expense = $765

            Communication Expenses = $150

           Rent = $900

Caculation of Income      

Income = Sale -  Expenses

             = $3.230-$765-$150-$900

             =$1415.00

Thus, after calculating the Income summary is shown a credit balance of $1415.00

Learn more about Revenue Expenditure here:

https://brainly.com/question/17769683

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