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Fill out chart for A: Record entry to close service revenue. B: Record entry to close expenses. C:Record entry to close Dividends. The following financial
Fill out chart for A: Record entry to close service revenue.
B: Record entry to close expenses.
C:Record entry to close Dividends.
The following financial information was taken from the books of Zone Health Club, a small spa and fitness club: Account Balances as of December 31, Year 2 Accounts receivable Accounts payable Salaries payable Cash Dividends Operating expense Prepaid rent Rent expense Retained earnings, Beginning Salaries expense Service revenue Supplies Supplies expense Common stock Unearned revenue Land $ 25,300 7,980 10,800 43,300 5,5ee 2,710 2,700 7,899 20, 2ee 31,480 78,888 see 2,590 24,600 6,830 14,5ee Required 2. Prepare the journal entries necessary to close the temporary accounts at December 31. Year 2. for Zone Health Club. . What is the balance in the Retained Earnings account after the closing entries are posted? Complete this question by entering your answers in the tabs below. Required A Required B Prepare the journal entries necessary to close the temporary accounts at December 31, Year 2, for Zone Health Club. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record entry to close service revenue. Note: Enter debits before credits Event General Journal Debit Credit 1 Record entry Clear entry View general journal Required A Required B What is the balance in the Retained Earnings account after the closing entries are posted? Retained Earnings, Year 2 Beginning retained earnings Ending retained earningsStep by Step Solution
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