Frog Corporation Had Revenues of $300,000, Expenses of $200,000, and Dividends

Multiple Choice

Frog Corporation had revenues of $300,000, expenses of $200,000, and dividends of $45,000.When Income Summary is closed to Retained Earnings, the amount of the debit or credit to Retained Earnings is a

A) debit of $55,000.
B) debit of $100,000.
C) credit of $55,000.
D) credit of $100,000.