Prepare the necessary closing entries based on the following selected accounts. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually.)
Accumulated Depreciation 10,000
Depreciation Expense 4,000
Retained Earnings 20,000
Dividends 12,000
Salaries and Wages Expense 18,000
Service Revenue 31,000
Account Titles and Explanation Debit Credit
(To close revenue account)
(To close expense account)
(To close net income/loss)
( To close dividends)
