The following information is available for Brendon Company before closing the accounts. What will be the amount in the Income Summary account that should be closed to Retained earnings? Retained earnings$112,000Dividends 32,000Fees earned 187,000Depreciation Expense?Equipment 12,000Wages expense 71,400Interest expense 3,300Insurance expense 11,700Rent expense 24,200
A. $43,000.
B. $42,400.
C. $80,000.
D. $64,400.
E. $32,400.
Answer: D
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