Closing Entries: Everything Below is a list of accounts with corresponding ending balances.

(1) Prepare all entries necessary to close those accounts that should be closed at the end of the year and (2) compute the ending balance in the retained earnings account.

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Account a. Inventory Account Balance $1,800 900 b. Dividends C. Sales Revenue 7,900 d. Wages Expense 5,100 e. Cash 1,900 f. Cost of Goods Sold 3,200 g. Rent Revenue 800 h. Retained Earnings (beginning) 1,300