Automation Services Co. offers its services to companies desiring to use technology to improve their operations. After the accounts have been adjusted at December 31, the end of the fiscal year, the following balances were taken from the ledger of Automation Services:

Fees Earned	$614,500
Dividends	45,000
Rent Expense	140,000
Retained Earnings	3,250,000
Supplies Expense	18,200
Wages Expense	320,000
Miscellaneous Expense	8,700

CHART OF ACCOUNTS

Automation Services Co.

General Ledger

	ASSETS
11	Cash
12	Accounts Receivable
13	Supplies
14	Prepaid Rent
15	Land

	LIABILITIES
21	Accounts Payable
22	Unearned Fees
23	Wages Payable

	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

Journalize the closing entries. Refer to the Chart of Accounts for exact wording of account titles.

PAGE 11

JOURNAL

ACCOUNTING EQUATION

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
1		Closing Entries
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