Exhibit 4-2 Short Company Has the Following Income Statement for 2012

Multiple Choice

Exhibit 4-2 Short Company has the following income statement for 2012:

-Refer to Exhibit 4-2. Given the information above, the entry to close expenses would include a

A) Debit to Utilities expense of $42,000
B) Credit to Utilities expense of $42,000
C) Credit to Sales revenue of $630,000
D) Debit to Salaries expense of $483,000