Closing Entries After the accounts have been adjusted at May 31, the end of the fiscal year, the following balances were taken from the ledger of Bollinger Services Co.: Retained Earnings $374,620 Dividends Fees Earned 38,000 362,800 Wages Expense 283,800 Rent Expense 68,100 Supplies Expense 25,540 Miscellaneous Expense 8,515