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For the year ended December 31, a company had revenues of $197,000 and expenses of...

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Accounting

For the year ended December 31, a company had revenues of $197,000 and expenses of $118,200. $39,400 in dividends were paid during the year. Which of the following entries could NOT be a closing entry?

A. Debit Income Summary $78,800; credit Retained earnings $78,800.

B. Debit Retained earnings $39,400; credit Dividends $39,400.

C. Debit Revenues $197,000; credit Income Summary $197,000

D. Debit Income Summary $118,200, Credit expenses $118,200.

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