Question $31$ of $31$

$\frac{-}{{103}^{\text{v}\text{d}\text{o}\text{t}\text{s}}}$

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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 Revenue

$31,000$

Account Titles and Explanation

Debit

Credit

$($To close revenue account$)$

$($To close expense account$)$