the journal entry to close revenues would be:

Income Statement Balance Sheet Adjusted Trial Balance Debit Credit Debit Account Title Debit Credit Credit 16,000 Cash 16,000 6,000 6,000 Accounts Receivable 2,000 2,000 19,000 19,000 Supplies Equipment Accumulated Depr. Accounts Payable Wages Payable 6,000 10,000 6,000 10,000 2,000 5,000 2,000 Common Stock 5,000 4,963 4,963 Retained Earnings Dividends 1,000 1,000 Fees Earned 48,826 48,826 Wages Expense 21,614 21,614 Rent Expense 6,870 Depreciation Expense 6,870 4,305 76,789 4,305 Totals 76,789 32,789 48,826 44,000 27,963 Net Income (Loss) 16,037 16,037 44,000 48,826 48,826 44,000