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Power Company Is preparing the closing entries at the end of its 2020 accounting period. Power Company has normal balances in the following accounts:
Power Company Is preparing the closing entries at the end of its 2020 accounting period. Power Company has normal balances in the following accounts: Retained Earnings, beginning balance Service Revenue Salaries Expense Dividends $25,000 60,000 15,000 5,000 What are the balances in the following accounts after the closing journal entries are posted? Service Revenue 60,000 Salaries Expense 15,000 Dividends 5,000 Retained Earnings 65,000 Service Revenue Salaries Expense 0 Dividends 0 Retained Earnings 25,000 Service Revenue 60,000 Salaries Expense 15,000 Dividends 5,000 Retained Earnings 25,000 Service Revenue Salaries Expense Dividends Retained Earnings 65,000 5: 2
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