Closing Entries in the midst of closing procedures, Echo Corporation's accountant became ill and was hospitalized. You have volunteered to complete the closing of the books, and you find that all revenue and expense accounts have zero balances. The Dividends account has a debit balance of $19,150. The Retained Earnings accounts has a beginning credit balance of $130,000. Expenses totaled $321,500 and revenues totaled $360,400. Prepare journal entries to complete the closing procedures as of year-end directly to Retained Earnings. After these entries are posted, what is the balance in the Retained Earnings account? General Journal Date Description Debit Credit Dec 31 Retained Earnings Dividends To close the Dividends account. 05 0 0 Balance in Retained Earnings after closing $ 0