Date Accounts and Explanation Debit Credit Date Accounts and Explanation Debit Cred Dec. 31 Service Revenue 150,000 Dec. 31 Income Summary 69,000 Income Summary To close Revenue 150,000 Retained Earnings 69 To close Income Summary Date Accounts and Explanation Debit Credit Date Accounts and Explanation Debit Cre Dec. 31 Retained Earnings 17,000 Dec. 31 Income Summary 81,000 Dividends To close Dividends 17,000 Depreciation Expense-Furniture 13 Interest Expense 18 Rent Expense 8 Salaries Expense 15 Adj. Bal Depreciation Expense--Furniture 13,000 Dividends Adj. Bal 17.000 Interest Expense Adj. Bal 18,000 Adj. Bal Retained Earnings 40,000 Supplies Expense 27,000 Adj. Bal Adj. Bal Supplies Expense To close Expenses Rent Expense 8,000 Service Revenue 150,000 Adj.Bal. Salaries Expense Adj. Bal 15.000 Income Summary 27