Common stock.. $ 18,000 Accounts receivable $ 13,000 12,600 Service revenue... Unearned revenues. 1,200 Salaries expense. 5,800 118,000 Retained earnings. 1,700 Salaries payable .. 24,500 Depreciation expense 30,000 Rent expense. 2,000 Dividends.. 1,000 Supplies. 3,200 Accumulated depreciation Supplies expense. Interest revenue. 5,800 9,000 1,900 Interest expense. Journal Entry Date Accounts Debit Credit Nov 118,000 30 Service revenue Interest revenue Retained earnings 1,000 119,000 Close out the expense accounts. Journal Entry Date Accounts Debit Credit Nov 30 Retained earnings Salaries expense Depreciation expense Rent expense Interest expense Supplies expense Close out the Dividends account. Similar to the expense accounts, the Dividends account has a normal debit balance. To close dividends, then, we must credit the account for the amount of its debit balance. Doing so will reduce the Dividends account to zero. We will then debit, or decrease, the Retained earnings account by the same amount. Referring to the account balance information provided, close Beam Electrical's Dividends account. Journal Entry Date Accounts Debit Credit Apr Retained earnings Beginning balance 4,200 Close revenues. 82,900 Close expenses 30,800 Close dividends 16,000 Ending balance