Prepare the necessary closing entries based on the following selected accounts.(Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Accumulated Depreciation$ 10,000

Depreciation Expense 4,000

Retained Earnings 20,000

Dividends 12,000

Salaries and Wages Expense 18,000

Service Revenue31,000

Account Titles and Explanation Debit Credit

____________________________________

____________________________________

(To close revenue account)

____________________________________

____________________________________

____________________________________

(To close expense account)

____________________________________

____________________________________

(To close net income/loss)

____________________________________

____________________________________

(To close dividends)