Business, 14.04.2020 18:43 JamesDelia

Rosewood, Inc. earned revenues of $19,000 and incurred expenses of $4,000. The company declared and paid cash dividends of $1,500. What is the balance in the Income Summary account after closing net income or loss to the Retained Earnings account?
a. credit balance of $4,000.
b. balance of $0.
c. debit balance of $19,000.
d. credit balance of $15,000.
e. none of the above.

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Rosewood, Inc. earned revenues of $19,000 and incurred expenses of $4,000. The company declared and...