Answer:
Step-by-step explanation:
The closing entries for the following accounts are presented below:
1. Service Revenue A/c Dr $33,000
Interest Revenue A/c Dr $4,300
To Income Summary $37,300
(Being revenue account closed)
2. Income summary A/c Dr $31,500
To Salaries Expense $13,300
To Rent Expense $4,300
To Advertising Expense $1,300
To Depreciation Expense $9,300
To Interest Expense $3,300
(Being expenses accounts are closed)
3. Income summary A/c Dr $5,800 ($37,300 - $31,500)
To Retained earning $5,800
(Being the difference is credited to retained earning)
4. Retained earnings A/c Dr $1,300
To Dividend A/c $1,300
(Being dividend account is closed)