E3-11B. Closing Entries The adjusted trial balance of the Matthews Corporation, prepared December 31, contains the following accounts:

Chapter 3 Accrual Basis of Accounting Debit Credit $102,500 6,500 $49,800 ..4,300 9,500 9,900 Salaries expense.. Depreciation expense. . 80,000 57,700 17,000 Prepare journal entries to close the accounts directly to Retained Earnings. After these entries are posted, what is the ending balance in the Retained Earnings account? 7 E3-12B. Closing Entries Use the inform