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 $91,000 Rent Expense $20,800 Salaries Expense 52.000 Supplies Expense 6.000 Depreciation Expense 11.300 Retained Earnings 72.000 Dividends 10,000 Prepare journal entries to close the accounts directly to Retained Earnings. After these entries are posted, what is the balance in the Retained Earnings account? General Journal Description S Debit Date Dec. 31 Credit To close the revenue account. Dec. 31 Rent Expense Salaries Expense Supplies Dxpense . To close the expense accounts Dec 31 + To dose dividends account Balance in Retained Earnings at December 31