65.2 In the table in cells (B35:D36) prepare the journal entries to close dividends to retained earnings. a. Debit entries go first followed by credit entries. b. Choose appropriate account titles in column B from the drop-dowa list. c. In columns Cor D reference appropriate debit or credit amounts for the items from the income statement. Whole Pine Inc. Post-Closing Trial Balance As of December 31, 20XX Account Titles Debit Credit Whole Pine Inc. Adjusted Trial Balance 4 For the Year Ended December 31, 20xx 8 Adjusted Trial Balance 6 Account Titles Debit Credit 7 Cash $ 18,000 8 Accounts Receivable $ 16.000 9 Supplies S 8,500 10 Property Plant and Equipment s 23.000 11 Accounts Payable 12.000 12 Notes Payable 11,000 13 Other abilities S 5,000 14 Capital Stock 25.000 15 Retained Earnings S 8.500 16 Revenues S 120,000 17 Cost of Goods Sold $ 42,000 18 Operating Expense $ 47,000 19 Interest Expense $ 1,000 20 Income Tax Expense $ 21,000 21 Dividends S 3,000 22 Total $ 179,500 $ 179,500 23 24 Uus . Total 25 26 Account Titles Debit Credit Account Titles Debit Credit 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 Retained Earnings Beginning Retained Earnings Balance Journal Whole Pine Ready