Complete this question by entering your answers in the tabs below. Prepare the necessary closing entries on December 31 of the current year. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the entry to close the revenue account. Note: Enter debits before credits. Gerde's statement of retained earnings indicates that a $7,000 cash dividend was declared and paid during the a. Prepare the necessary closing entries on December 31 of the current year. b. If Gerde's Retained earnings account had a $97,000 balance on at the beginning of the current year, at what ar Retained Earnings be reported in the clinic's year-end balance sheet on December 31 of the current year? Complete this question by entering your answers in the tabs below. If Gerde's Retained earnings account had a $97,000 balance on at the beginning of the current year, at what amou Retained Earnings be reported in the clinic's year-end balance sheet on December 31 of the current year? The Gerde Clinic, Incorporated, closes its temporary accounts once each year on December 31 . The company recently issued the ollowing income statement as part of its annual report: Gerde's statement of retained earnings indicates that a $7,000 cash dividend wos declared and paid during the current yeat. a. Prepare the necessary closing entries on December 31 of the current year. b. If Gerde's Retained earnings account had a $97,000 balance on at the beginning of the current year, at what amount shouid Retained Earnings be reported in the clinic's year-end balance sheet on December 31 of the current year? Complete this question by entering your answers in the tabs below. Prepare the necessary closing entries on December 31 of the current year. Note: If no entry is required for a transaction/event, select "No journal entry mequired" in the first account field