Preparing Closing Entries The following selected accounts and amounts are from the adjusted trial balance for Seattle Inc. Sales $33,000 Cost of goods sold $15,900 Service revenue 600 Interest expense 1,200 Operating expenses 7,200 Dividends 3,300 Income tax expense 1,500 Required Prepare the closing entries for revenues, expenses, and dividends. Use the Income Summary account to close income statement amounts General Journal Account Name Dr. Cr. . Service Revenue 0 0 0 0 To close revenues to income summary 0 Operating Expenses Income Tax Expense Costs of Goods Sold OOOOO O 0 47 1,200 To close expenses to income summary 0 0 0 0 To close income summary to retained earnings 0 0 0 To close dividends to retained earnings Check