Account Title Debit Credit Debit Credit Credit Cash Accounts Receivable 16,000 6,000 2,000 19,000 Debit 16,000 6,000 2,000 19,000 Supplies Equipment Accumulated Depr. Accounts Payable Wages Payable Common Stock Retained Earnings Dividends 6,000 10,000 2,000 5,000 5,902 6,000 10,000 2,000 5,000 5,902 1,000 1,000 Fees Earned 46,001 46,001 20,519 6,000 Wages Expense Rent Expense Depreciation Expense Totals Net Income (Loss) 20,519 6,000 4,384 74,903 4,384 74,903 46,001 44,000 28,902 30,903 15,098 46,001 15,098 46,001 44,000 44,000 The effect of closing revenues and expenses to Retained Earnings will be to: Oa. increase Retained Earnings by $15,098 Ob. decrease Retained Earnings by $15,098 Oc. increase Retained Earnings by $30,903 Od decrease Retained Earnings by S44,000