Entry 1:

• Record the entry to close revenue accounts.

Entry 2:

• Record the entry to close expense accounts.

Entry 3:

• Record the entry to close the income summary account.

Entry 4:

• Record the entry to close the dividends account.

The ledger of Mai Company includes the following accounts with normal balances as of December 31: Common Stock $10,900; Dividends $1,750; Services Revenue $32,000; Wages Expense $17,900; and Rent Expense $5,400. Prepare its December 31 closing entries. View transaction list Journal entry worksheet Record the entry to close revenue accounts. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 Record entry Clear entry View general journal