After the accounts have been adjusted at January 31, the end of the fiscal year, the following balances are taken from the ledger of Harrison's Dog Walking Service Company:

Retained Earnings	$380,060
Dividends	7,670
Fees Earned	137,610
Wages Expense	42,120
Rent Expense	13,860
Supplies Expense	14,590
Miscellaneous Expense	1,380

Required:

Journalize the two entries required to close the accounts. Refer to the Chart of Accounts for exact wording of account titles.

Chart of Accounts

CHART OF ACCOUNTS

Harrison's Dog Walking Service Company

General Ledger

	ASSETS
11	Cash
12	Accounts Receivable
13	Interest Receivable
14	Prepaid Insurance
15	Notes Receivable
16	Equipment
17	Accumulated Depreciation

	LIABILITIES
21	Accounts Payable
22	Wages Payable
24	Unearned Revenue

	EQUITY
31	Common Stock
32	Retained Earnings
33	Dividends

	REVENUE
41	Fees Earned

	EXPENSES
51	Wages Expense
52	Rent Expense
53	Supplies Expense
59	Miscellaneous Expense

General Journal

Journalize the two entries required to close the accounts on January 31. Refer to the Chart of Accounts for exact wording of account titles.

PAGE 1

JOURNAL

ACCOUNTING EQUATION

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
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