Expenses are debits to Income Summary and revenues are credits to Income Summary. Another Question Go to Table of Contents 9b. Expenses are debits to Income Summary and revenues are credits to Income Summary. Another Question Go to Table of Contents 9c. Expenses are debits to Income Summary and revenues are credits to Income Summary.
Expenses are debits to Income Summary and revenues are credits to Income Summary.
Accounts are closed with the opposite. Another Question Go to Table of Contents 10a. Withdrawals carries a debit balance and does not have anything to do with Income Summary. Another Question Go to Table of Contents 10b. Withdrawals has nothing to do with Income Summary.