The following selected accounts and normal balances existed at year-end. Notice that expenses exceed revenue in this period. Make the four journal entries required to close the books:

Accounts recievable- 46,200

prepaid insurance- 5,800

land 12,000

accounts payable- 29900

notes payable - 32500

retained earnings 55400

dividens 8000

fees earned revenue- 89200

Selling expenses- 62000

admin expenses 29500

misc expense 4140