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: Common Stock $340,000 Retained Earnings 9,000 Dividends Fees Earned 6,000 124,600 Wages Expense 29,000 Rent Expense 43,000 Supplies Expense 7,300 Journalize the four entries required to close the accounts 1. Date 2. Debit Credit From the group exercise, what is the Income Summary balance after recording the closing entries for revenues and expenses are done? $124,600 $85,000 $39,600 O $0 Question 2 From the group exercise, what is the amount of change in Retained Earnings after closing the income summary and the dividend accounts? $0 $6,000 DR $33,600 CR $39.600 CR 2 pts Unearned Fees appear on the O balance sheet in the current assets section balance sheet as a current liability balance sheet in the stockholders' equity section income statement as revenue D Question 4 The natural business year is a fiscal year that ends when business activities are at their lowest point calendar year that ends when business activities are at their lowest point fiscal year that ends when business activities are at their highest point calendar year that ends when business activities are at their highest point 2 pts 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: Common Stock $340,000 Retained Earnings 9,000 Dividends Fees Earned 6,000 124,600 Wages Expense 29,000 Rent Expense 43,000 Supplies Expense 7,300 Miscellaneous Expense 5,700 Journalize the four entries required to close the accounts 1. Date 2. Debit Credit 3. 4. Question 1 From the group exercise, what is the Income Summary balance after recording the closing entries for revenues and expenses are done? $124.600 $85.000 $39.600 $0 Question 2 From the group exercise, what is the amount of change in Retained Earnings after closing the income summary and the dividend accounts? $0 $6,000 DR $33.600 CR $39.600 CR Question 3 Unearned Fees appear on the balance sheet in the current assets section balance sheet as a current liability balance sheet in the stockholders' equity section income statement as revenue