Laker Incorporated's fiscal year-ena is December 31, 2021. The following is an adjusted trial balance as of December 31.
Accounts
Cash
Supplies
Prepaid Rent
Accounts Payable
Notes Payable
Common Stock
Retained Earnings
Dividends
Service Revenue
Salaries Expense
Advertising Expense
Rent Expense
Utilities Expense
Totals
Required:
Debit
$ 12,800
38,500
29,500
3,900
Credit
$ 2,900
29,000
39,500
8,900
55,000
19,900
12,900
9,900
7,900
$135,300 $135,300

Record the entry to close the revenue accounts
Record the entry to close the expense accounts
Record the entry to close the dividends account