question archive The income statement for the month of June, 2015 of Camera Obscura Enterprises contains the following information: Revenues $7,000 Expenses: Salaries and Wages Expense $3,000 Rent Expense 1,500 Advertising Expense 800 Supplies Expense 300 Insurance Expense 100 Total expenses 5,700 Net income $1,300 The entry to close the expense accounts includes a  debit to Salaries and Wages Expense for $3,000

The income statement for the month of June, 2015 of Camera Obscura Enterprises contains the following information: Revenues $7,000 Expenses: Salaries and Wages Expense $3,000 Rent Expense 1,500 Advertising Expense 800 Supplies Expense 300 Insurance Expense 100 Total expenses 5,700 Net income $1,300 The entry to close the expense accounts includes a  debit to Salaries and Wages Expense for $3,000

Subject:AccountingPrice:2.87 Bought7

The income statement for the month of June, 2015 of Camera Obscura Enterprises contains the following information:

Revenues $7,000

Expenses:

Salaries and Wages Expense $3,000

Rent Expense 1,500

Advertising Expense 800

Supplies Expense 300

Insurance Expense 100

Total expenses 5,700

Net income $1,300

The entry to close the expense accounts includes a

 debit to Salaries and Wages Expense for $3,000.

 credit to Rent Expense for $1,500

 debit to Income Summary for $1,300

credit to Income Summary for $5,700

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