BE44 Sheet Nam RE4-48 The lodger of Rios Company contains the following balanga Backgrou Retained Earnings Dividends Service Revenue Salaries and Wngen Exponte Supplies Expense $30,000 $2.000 $50,000 $27,000 $7,000 Prepare the closing entries at December 31 Recall that the purpose of the closing entries is to come out the temporary accounts of the company. Temporary accounts include Revenue Accounts, Expense Accounts and Dividends Step 1 = Identity the Temporary Accounts that this definition lear Dividends Service Revenue Salaries and Wages Expense Supplies Expense $2,000 $50,000 $27 000 $7000 unt age Step 2 - Create the journal entries to close out these accounts Our rules Rogue has a natural credit balance, we will debit revenue accounts and credit the income Summary account Inrom my 10 ends to Holanderinge DEC-5Using the data Enter the band indoor poot the closing entries and doing and the Noter button and Totals will utomatically populate you just need to plug in the entries from the problemeve Salwyd wage Service . 7 000 50.000 71 000 Dual Sheet 50.000 2) Dit heel 50.000 50.000 - - bulance - Dono 2700 27.000 7000 7,000 To Sunny 10000 22 Account Manage 50.000 50.000 balance Diviends 9.000 Rent aming 30 000 4 2000 sub- banco 30 000 30 000 De 2000 sign