Seminoles Corporation's fiscal year-end is December 31, 2012. The following is a partial adjusted trial balance as of December 31.
Accounts .....................................Debit ........................Credit
Retained Earnings ..........................................................$20,000
Dividends ....................................$ 2,000
Service Revenue .............................................................40,000
Interest Revenue ...............................................................5,000
Salaries Expense ............................14,000
Rent Expense .................................5,000
Advertising Expense .........................2,000
Depreciation Expense .....................10,000
Interest Expense .............................4,000
Required:
Prepare the necessary closing entries?