Account Balances as of December 31, Year 2
Accounts Receivable
$26,300
Accounts Payable
7,600
Salaries Payable
10,600
Cash
41,000
Dividends
5,000
Operating Expenses
2,310
Prepaid Rent
2,600
Rent Expense
7,400
Retained Earnings, Beginning
18,700
Salaries Expense
31,100
Service Revenue
67,280
Supplies
270
Supplies Expense
2,100
Common Stock
20,200
Unearned Revenue
7,000
Land
13,300
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 is
required for a transaction/event, select "No journal entry required" in the first account field.)
View transaction list View journal entry worksheet
No
A
Event
1
General Journal
Salaries Payable
Debit
Credit