- The Ring Company provides security services in Austin, TX. At the year-end 2019, after adjusting entries have been made, the following list of account balances is prepared.

- Service Revenue $612,900

- Salaries Expense $148,250

- Rent Expense $27,600

- Utilities Expense $48,800

- Supplies Expense $51,900

- Income Tax Expense $30,800

- Retained Earnings $305,550

- Dividends $6,000

Question 1) Prepare a closing journal entry to close the revenue account on December 31st.

1a) Prepare the closing journal entry to close the expense account on December 31st.

1b) Prepare the closing journal entry to close the Income Summary on December 31st.

1c. Prepare the closing journal entry to close the Dividend Account on December 31st.