Exercise 3-17A Preparing closing entries The following financial information was taken from the books of Zone Health Club, a s and fitness club: Account Balances as of December 31, 2016 Accounts Receivable $12,450 6,200 3,150 Accounts Payable Salaries Payable Cash 36,750 2,000 35,300 1,200 8,400 41,250 14,500 Dividends Operating Expense Prepaid Rent Rent Expense Retained Earnings 1/1/2016 Salaries Expense Service Revenue Supplies Expense Unearned Revenue 65,400 Supplies 650 3,150 7,000 6,400 15,000 Common Stock Land Exercise 3-17A Preparing closing entries The following financial information was taken from the books of Zone Health Club, a s and fitness club: Account Balances as of December 31, 2016 Accounts Receivable $12,450 6,200 3,150 Accounts Payable Salaries Payable Cash 36,750 2,000 35,300 1,200 8,400 41,250 14,500 Dividends Operating Expense Prepaid Rent Rent Expense Retained Earnings 1/1/2016 Salaries Expense Service Revenue Supplies Expense Unearned Revenue 65,400 Supplies 650 3,150 7,000 6,400 15,000 Common Stock Land