The Retained Earnings Account Has a Credit Balance of $37,000

Multiple Choice

The Retained earnings account has a credit balance of $37,000 before closing entries are made.Total revenues for the period are $55,200,total expenses are $39,800,and dividends are $9,000.What is the correct closing entry for the revenue accounts?

A) Debit Income Summary $55,200; credit Revenue accounts $55,200.
B) Debit Revenue accounts $37,000; credit Retained earnings $37,000.
C) Debit Revenue accounts $55,200; credit Retained earnings $37,000.
D) Debit Revenue accounts $55,200; credit Income Summary $55,200.
E) Debit Income Summary $37,000; credit Retained earnings $37,000.