Oct. 2: received $600 from rachel elpel and wrote off the remainder owed of $1,350 as uncollectible. if an amount box does not require an entry, leave it blank. oct. 2 dec. 20 : reinstated the account of rachel elpel and received $1,350 cash in full payment

During 2016, nike inc., reported net income of $3,760 million. the company declared dividends of $1,022 million. the closing entry for dividends would include which of the following? select one: a. credit cash for $1,022 million b. credit dividends for $1,022 million c. debit net income for $1,022 million d. credit retained earnings for $1,022 million e. debit dividends for $1,022 million