After the accounts have been adjusted at July $31,$ the end of the fiscal year, the following balances were taken from the ledger of Beautifying Landscaping Co$.$:

Line Item Description Amount

Retained Earnings $$580,950$

Dividends $29,000$

Fees Earned $568,915$

Wages Expense $387,300$

Rent Expense $93,000$

Supplies Expense $34,855$

Miscellaneous Expense $11,620$

Journalize the two entries required to close the accounts. If an amount box does not require an entry, leave it blank.

DateAccountDebitCredit

July $31$

July $31$

Correct