MULLI JLULISES & Problems Navigation Finish attempt ... Question 2 Partially correct Mark 8.40 out of 10.00 P Flag question Closing Entries The adjusted trial balance prepared as of December 31, for Cheryl Fontaine & Company, shipping agent, contains the following accounts: Debit Credit Commission Earned 585.100 Wages Expense $36.400 Insurance Expense 2,300 Utilities Expense 8.600 Depreciation Expense 10.200 Dividends 12200 Common stock 50.200 Retained earnings 22.300 Prepare journal entries to close the accounts directly to Retained Earnings. After these entries are posted, what is the balance in the Retained Earnings account? Credit 35.100 General Journal Date Description Debit Dec.31 Commissions Earned 85.100 V3 Commissions Barned. 0 To close the revenus account Deca Commissions arredo Vaces by pre Vitet Depreciation Expense Utilities Expense Depreciation Expense Dividends Common stock Retained earnings 8,600 10,200 12,200 50,200 22.300 Prepare journal entries to close the accounts directly to Retained Earnin $ Credit 0 85,100 0 > General Journal Date Description Debit Dec.31 Commissions Earned 85,100 Commissions Earned X HO To close the revenue account. Dec.31 Commissions Earned X 85,100 % Wages Expense Insurance Expense Oy Utilities Expense O Depreciation Expense To close the expense accounts. Dec.31 Retained Earnings 12.200 Dividends 0 To close the dividends account O 36,400 2,300 8,600 10,200 w 12.200 Balance in Retained Earnings at December 31 $ 15.400 Check 385, Wages Expense Insurance Expense Utilities Expense Depreciation Expense Dividends Common stock Retained earnings $36,400 2.300 8,600 10.200 12.200 50,200 Prepare journal entries to close the accounts directly to Retained Earnings. After th Credit General Journal Date Description Debit Dec 31 Commissions Earned $ 85,100 Commissions Earned > To close the revenue account. Dec 31 Commissions Earned ex 85.100 x 85,100 x OOOO8 0 36,400 2.300 8,600 10.200 Commissions Earned Common Stock Depreciation Expense Dividends Insurance Expense Dec. 31 Retained Earnings Wages Expense Utilities Expense 0 12,200 0 . 12.200 Junt. Balance in Retained Earnings at December 31 $ 15,400 Check You have correctly selected 21. Partially correct Marks for this submission: 8:40/10.00 Previous S Save Answers