Current Attempt in Progress Paloma Company shows the following balances in selected accounts of its adjusted trial balance. Supplies Supplies Expense Accounts Receivable 12.000 22.000 70,000 Dividends Retained Earnings 31 31 Date Account Titles and Explanation Dec. 31 31 Prepare the closing entries at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Accounts Receivable Service Revenue $32,000 Dividends 6,000 (To close revenue to income summary) Supplies Expense Rent Expense Utilities Expense Service Revenue Salaries and Wages Expense Utilities Expense Rent Expense Salaries and Wages Expense (To close expenses to income summary) Retained Earnings eTextbook and Media Supplies (To close net income to retained earnings) List of Accounts (To clase dividends to retained earning Save for Later $108,000 40,000 8.000 18,000 Debit Credit

Current Attempt in Progress Paioma Corroumy shows the followine batances in seiected accounts of its adjunted triai baiance. Frepare the doning entries at December 31. (Credit account tities are eutometically indented when omount is entered. Do nat indeat manually if no enery is required, seiect "No Entry" for the account titles and enter of for the amounts)