eBook Show Me How Closing Entries with Net Loss Print Item Summit Services Co. offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted at May 31, the end of the fiscal year, the following balances were taken from the ledger of Summit Services: Fees Earned $275,000 Dividends 38,000 Rent Expense 57,300 Retained Earnings 610,000 Supplies Expense 14,000 Wages Expense 241,000 1 6,700 Miscellaneous Expense Journalize the closing entries required to close the accounts. If an amount box does not require an entry, leave it blank. May 31 May 31