Closing Entries The adjusted trial balance prepared as of December 31, for Phyllis Howell & Company,...

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Closing Entries The adjusted trial balance prepared as of December 31, for Phyllis Howell & Company, Consultant, contains the following revenue and expense accounts. Debit Credit Service fees earned $96,600 Rent expense $24,960 Salaries expense 62,400 Supplies expense 6,720 Depreciation expense 13,560 Retained earnings 86,400 Dividends 12,000 Create the journal entry to close expense accounts to retained earnings. (Enter expense accounts in order of magnitude (largest to smallest.) Account + Debit Credit 00000 Closing Entries The adjusted trial balance prepared as of December 31, for Phyllis Howell & Company, Consultant, contains the following revenue and expense accounts. Debit Credit Service fees earned $96,600 Rent expense $24,960 Salaries expense 62,400 Supplies expense 6,720 Depreciation expense 13,560 Retained earnings 86,400 Dividends 12,000 Create the journal entry to close expense accounts to retained earnings. (Enter expense accounts in order of magnitude (largest to smallest.) Account + Debit Credit 00000