Cliffside RV Center's accounting records include the following accounts at December $31,2025.$ All accounts have normal balances.

View the accounts and balances.

Requirements

Journalize the required closing entries for Cliffside RV Center.

Determine the ending balance in the Retained Earnings account.

Requirement $1.$ Journalize the required closing entries for Cliffside RV Center. $($Record debits first, then credits. Select the explanation on the last line of the journal entry table.$)$

Start by closing the revenue accounts for the period. Do not close expenses; we will do this in the next step.

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[$Dec$.31],[,,,],[,,,],[,,,],[,,,]]$

Accounts and Balances

$\backslash$table$[[$Cost of Goods Sold,$375,000],[$Accounts Payable,$12,000],[$Rent Expense,$28,000],[$Building$,113,000],[$Common Stock,$109,000],[$Retained Earnings,$34,000],[$Merchandise Inventory,$236,000],[$Sales Returns and Allowances,$39,000],[$Notes Receivable,$31,000],[$Accumulated Depreciation$-$Building,$42,000],[$Cash$,53,000],[$Sales Revenue,$730,000],[$Depreciation Expense$-$Building,$10,000],[$Dividends$,57,000],[$Sales Discounts,$1,000],[$Interest Revenue,$16,000]]$