The income statement for the month of June of Camera Obscura Enterprises contains the following information: Sales Revenues $7,000 Expenses:
Salaries and Wages Expense $3,000 Rent Expense 1,500 Advertising Expense 800 S
upplies Expense 300 Insurance Expense 100 Total expenses 5.700 Net income $1.300 After the revenue and expense accounts have been closed, the balance in Income Summary will be a. a credit balance of $7,000. b. $0. c. a debit balance of $1,300. d. a credit balance of $1,300.