Closing Entries The adjusted trial balance of the Rose Corporation, prepared as of December 31, contains the following accounts: Debit Credit Service fees earned $92,500 2,600 Interest income Salaries expense $41,800 Advertising expense 4,300 Depreciation expense 8,700 Income tax expense 11,000 75,000 Common stock Retained earnings 61,000 Cash dividends 15,000 Prepare journal entries to close the accounts directly to Retained Earnings. After these entries are posted, what is the ending balance in the Retained Earnings account? General Journal Debit Credit Date Description Dec.31 Service Fees tarned 925010 92,500 2,600 Interest Income 92,500x Retained Earnings To close the revenue accounts. Dec.31 Retained Earnings* 65,800 Salaries Expense 41,80 Advertising Expense 4,300 8,700 Depreciation Expense Income Tax Expense 11,00 To close expense accounts. Dec.31 Retained Earnings 15,00 Cash Dividends 15,000 To close the Dividends account. Balance in Retained Earnings at December 31 $ 0