Accounting Question…can Somebody Please Help?

A company had $80,000 of Sales revenue and $75,000 of Expenses. Which of the following would be the second of three year-end closing entries?
Answer
Debit Income summary $75,000 and credit Expenses $75,000.
Debit Expenses $75,000 and credit Income summary $75,000.
Debit Income summary $5,000 and credit Retained earnings $5,000.
Debit Revenues $80,000 and credit Income summary $80,000.

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