Required information [The following information applies to the questions displayed below.] At the beginning of Year 2, Penny Consulting had the following normal balances in its accounts. Account Balance Cash Accounts receivable Accounts payable Common stock Retained earnings $31,400 20,800 11,900 29,400 10,900 The following events apply to Penny Consulting for Year 2: 1. Provided $66,000 of services on account. 2. Incurred $2,800 of operating expenses on account. 3. Collected $45,700 of accounts receivable. 4. Paid $39,500 cash for salaries expense. 5. Paid $13,230 cash as a partial payment on accounts payable. 6. Paid a $9,400 cash dividend to the stockholders. Record the closing entries in the general journal. View transaction list Journal entry worksheet < A B C Record the closing entry for revenues. Note: Enter debits before credits. Event 1 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < A B C Record the closing entry for expenses. Note: Enter debits before credits. Event 2 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < A B C Record the closing entry for dividends. Note: Enter debits before credits. Event 3 General Journal Debit Credit Record entry Clear entry View general journal