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The following financial information was taken from the books of Zone Health Club, a small spa and fitness club: Account Balances as of Accounts receivable
The following financial information was taken from the books of Zone Health Club, a small spa and fitness club: Account Balances as of Accounts receivable December 31, Year 2 $28,900 Accounts payable 7,070 Salaries payable 10,700 Cash 44,900 Dividends 4,600 Operating expense 2,520 Prepaid rent 2,600 Rent expense 7,500 Retained Earnings 1/1/Year 2 19,600 Salaries expense 30,400 Service revenue 72,540 Supplies: Supplies expense Common stock Unearned revenue Land 440 2,480 21,600 6,630 13,800 Required a. Prepare the journal entries necessary to close the temporary accounts at December 31, Year 2, for Zone Health Club. b. What is the balance in the Retained Earnings account after the closing entries are posted? Complete this question by entering your answers in the tabs below. Required A Required B Prepare the journal entries necessary to close the temporary accounts at December 31, Year 2, for Zone Health Club. (If no entry in required for a transaction/event, select "No journal entry required" in the first account field.) < Prev 9 of 9 Next
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