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Homework answers / question archive / The income statement for the month of June, 2014 of Taylor Enterprises contains the following information
The income statement for the month of June, 2014 of Taylor Enterprises contains the following information. Revenues £8,000. Expenses. Salaries and Wages Expense £2,000. Rent Expense 1,500. Supplies Expense 300. Advertising Expense 200. Insurance Expense 100. Total expenses (4,100). Net income $3,900. After the revenue and expense accounts have been closed, the balance in Income Summary will be. a credit balance of £8,000. a debit balance of £3,900. O £0. O a credit balance of £3,900.
