For the Year Ended December 31, a Company Had Revenues

Multiple Choice

For the year ended December 31, a company had revenues of $187,000 and expenses of $109,000. The owner withdrew $37,000 during the year. Which of the following entries could not be a closing entry?

A) Debit Owner's Capital $37,000; credit Owner Withdrawals $37,000.
B) Debit Income Summary $187,000; credit revenues $187,000.
C) Debit revenues $187,000; credit Income Summary $187,000.
D) Debit Income Summary $109,000, credit expenses $109,000.
E) Debit Income Summary $78,000; credit Owner's, Capital $78,000.