Spicer Inc. showed the following alphabetized list of adjusted account ba Accounts Payable Accounts Receivable Accumulated depreciation, Equipment Accumulated depreciation, Warehouse Cash Cash Dividends Common Shares Equipment Income Tax Expense Land Notes Payable, due in 2026 Operating Expenses Preferred Shares Retained Earnings Revenue Warehouse $ 26,060 39,500 10,790 21,580 8,700 19,900 115,000 78,700 40,900 120,600 33,900 109,500 39,500 28,020 274,750 131,800 The company uses an income summary account in the closing process. Required: 1. Assuming normal balances, prepare the closing entries at December 3

Spicer Inc. showed the following alphabetized list of adjusted account be The company uses an income summary account in the closing process. Required: 1. Assuming normal balances, prepare the closing entries at December Spicer Ine. showed the following alphabetized list of adjusted account balances at December 31, 2023: The company uses an income summary account in the closing process. Required: 1. Assuming normal balances, prepare the closing entries at December 31,2023 , the company's year-end. Journal entry worksheet Record to close the revenue account to the income summary. Note: Enter debits before credits 2. Calculate the post-closing balance in Retained Earnings at December 31,2023 . Amounts to be deducted should be indicated by a minus sign.)