1. Prepare the journal entries necessary to close the temporary accounts at December 31, Year 2, for Zone Health Club.
2. What is the balance in the Retained Earnings account after the closing entries are posted?

What is the balance in the Retained Earnings account after the closing entries are posted? Record entry to close expenses. Note: Enter debits before credits. Record entry to close service revenue. Note: Enter debits before credits. \begin{tabular}{lr} \multicolumn{2}{c}{ Account Balances as of } \\ Accounts receivable & \\ Accounts payable & $25,400 \\ Salaries payable & 7,300 \\ Cash & 11,700 \\ Dividends & 44,800 \\ Operating expense & 5,100 \\ Prepaid rent & 2,280 \\ Rent expense & 3,100 \\ Retained Earnings 1/1/ Year 2 & 7,100 \\ Salaries expense & 19,200 \\ Service revenue & 30,900 \\ Supplies & 66,550 \\ Supplies expense & 270 \\ Common stock & 2,950 \\ Unearned revenue & 22,800 \\ Land & 7,350 \\ & 13,000 \end{tabular} Record entry to close Dividends. Note: Enter debits before credits