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 Lense Shirin Expense Expense $91,000 $20,800 $2,000 6,000 oation Expense 11.300 ained Earnings dends 72,000 10,000 repare journal entries to close the accounts directly to Retained Earnings. After these entries are posted, what is the balance in the Retained Earnings account? Date Dec 31 General Journal Debit Credit Description Retained Earnings To dose the revenue account Dec. 31 Rent Expense Salaries Expense Supples Expense Dec 31 0 0 0 # To dose the expense accounts $ 0 0 To dose dividends account Balance in Retained Earnings at December 31 s 0 475