Prior to closing its books, the Morgan Company has the following balances in its temporary accounts as of December 31: Sales revenue Cost of goods sold Wage expense Rent expense Depreciation expense Interest expense Dividends Account Cost of goods sold Sales Revenue Debit Prepare closing entries as of December 31 for the Morgan Company. $41,000 22,000 3,000 2,000 4,000 5,000 To close the revenue account Retained Earnings Check Credit $79,000 Cost of goods sold Wage expense Interest expense Rent expense Depreciation expense To close the expense accounts Retained Earnings Dividends To close the dividends account Debit 79,000 0 0 0 0 0 0 0 0 0 Credit 0x 79,000 * 0x 0x 0x 0x 0x 0x 0x 0x

Prior to closing its books, the Morgan Company has the following balances in its temporary accounts ss of December 31 : Prepare closing entries as of December 31 for the Morgan Company