Prepare Closing Entries to Retained Earnings The Century Company's adjusted trial balance contains the following balances as of December 31: Retained Earnings $17,000; Dividends $4,000; Sales $40,000; Cost of Goods Sold $16,000; Selling and Administrative Expenses $6,000; Interest Expense $3,000. Prepare the closing entries for The Century Company. Close the temporary accounts straight to retained earnings. General Journal Description Debit Credit 0 0 0 0 To close the revenue account. Cost of goods sold Selling and administrative expense To close the expense accounts. To close the dividends account. The balance of $17,000 in the retained earnings account is from the beginning of the year. What is the ending retained earnings balance after posting the closing entries? $ 0 Check