he following financial information was taken from the books of Zone Health Club, a small...
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Accounting
he following financial information was taken from the books of Zone Health Club, a small spa and fitness club:
Account Balances as of
December 31, Year 2
Accounts receivable
$
27,500
Accounts payable
7,870
Salaries payable
10,700
Cash
40,200
Dividends
5,000
Operating expense
2,230
Prepaid rent
3,700
Rent expense
7,700
Retained earnings, Beginning
20,100
Salaries expense
30,700
Service revenue
73,200
Supplies
540
Supplies expense
2,690
Common stock
23,800
Unearned revenue
7,250
Land
14,600
Requireda. 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? required a. record entry to close service revenue
required b. record entry to close expenses
required c. record entry to close dividends
2. what is the balance in retained earnings account after the entries are posted?
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