Rainbow Services Co. offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted at August 31, the end of thefiscal year, the following balances were taken from the ledger of Rainbow Services Co.

Retained Earnings$520,000Dividends32,000Fees Earned234,000Wages Expense205,400Rent Expense48,900Supplies Expense12,000Miscellaneous Expense5,700

Journalize the four entries required to close the accounts. If an amount box does not require an entry, leave it blank.

Aug. 31 Close revenues

Aug. 31 Close expenses

Aug. 31 Close net income/net loss

Aug. 31 Close dividends