Business, 02.06.2021 17:30, Katlyndavis01

For the year ended December 31, a company had revenues of $203,000 and expenses of $121,800. $40,600 in dividends were paid during the year. Which of the following entries could not be a closing entry? a. Debit Retained earnings $40,600; credit Dividends $40,600.
b. Debit Income Summary $81.200; credit Retained earnings $81,200.
c. Debit Income Summary $121,800, credit expenses $121,800.
d. Debit Income Summary $203,000; credit revenues $203,000.
e. Debit revenues $203,000: credit Income Summary $203.000.

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For the year ended December 31, a company had revenues of $203,000 and expenses of $121,800. $40,600...