Question: Rainbow Services Co. offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted at August 31, the end

Rainbow Services Co. offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted at August 31, the end of the fiscal year, the following balances were taken from the ledger of Rainbow Services:

Journalize the four entries required to close the accounts.

Retained Earnings Dividends Fees Earned Wages Expense 2,650,000 Rent Expense 0,000 Supplies Expense 1,050,000 Miscellaneous Expense $185,000 26,200 28,600 886,000

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