Exercise 4-21

Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Novak Corp. is provided below.

		Debit		Credit
Accounts Receivable		$63,890
Dividends		23,140
Depreciation Expense		11,620
Equipment		187,260
Salaries and Wages Expense		80,170
Accounts Payable				$46,640
Accumulated DepreciationEquipment				101,020
Unearned Rent Revenue				20,150
Service Revenue				161,740
Rent Revenue				5,460
Rent Expense		3,170
Retained Earnings				54,380
Supplies Expense		1,230

Date Account Titles and Explanation Debit Credit / Dec. 31 / / / / / (To close revenue account) Dec. 31 (To close expense accounts) Dec. 31 (To close net income to retained earnings) Dec. 31 Policy | 2000-2019 John Wil Determine the post-closing balance in Retained Earnings. (Post entries in the order of journal en Retained Earnings Click if you would like to Show Work for this question: Open Show Work