Seminoles Corporations fiscal year-end is December 31, 2021. The following is a partial adjusted trial balance as of December 31.

Accounts	Debit			Credit
Retained Earnings				$	16,000
Dividends	$	1,600
Service Revenue					36,000
Interest Revenue					4,600
Salaries Expense		13,600
Rent Expense		4,600
Advertising Expense		1,600
Depreciation Expense		9,600
Interest Expense		3,600

Required:

1. Prepare the necessary closing entries.