The following selected accounts and normal balances existed at year-end. Notice that expenses exceed revenue in this period. Make the four journal entries required to close the books:

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Accounts receivable Prepaid insurance Land Accounts payable Notes payable Retained earnings Dividends Fees earned revenue Selling expenses Administrative expenses Miscellaneous expense $ 85,500 18,000 15,000 82,350 35,000 129,650 15,000 311,000 210,000 105,000 8,500