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  3. edgar needs to close out 670 in the dividends account...

Question: edgar needs to close out 670 in the dividends account...

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Edgar needs to close out $670 in the dividends account at the end of the year. What closing entry will he use? a. Income summary (debit) 670; dividends (credit) 670 b. Retained earnings (debit) 670; dividends (credit) 670 c. Dividends (debit) 670; income summary (credit) 670 d. Revenue (debit) 670; dividends (credit) 670 e. Cash (debit) 670 ;dividends (credit) 670

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