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Closing Entries

After the accounts have been adjusted at July 31, the end of the fiscal year, the following balances were taken from the ledger of Beautifying Landscaping Co.:

Line Item Description	Amount
Retained Earnings	$281,790
Dividends	48,000
Fees Earned	453,265
Wages Expense	303,000
Rent Expense	72,700
Supplies Expense	27,270
Miscellaneous Expense	9,090

Journalize the two entries required to close the accounts. If an amount box does not require an entry, leave it blank.

Date	Account	Debit	Credit
July 31	Accounts ReceivableCashDividendsFees EarnedRetained EarningsFees Earned	Fees Earned	Fees Earned
	Accounts ReceivableCashDividendsFees EarnedWages ExpenseWages Expense	Wages Expense	Wages Expense
	Accounts ReceivableCashDividendsFees EarnedRent ExpenseRent Expense	Rent Expense	Rent Expense
	Accounts ReceivableCashDividendsFees EarnedSupplies ExpenseSupplies Expense	Supplies Expense	Supplies Expense
	Accounts ReceivableCashDividendsFees EarnedMiscellaneous ExpenseMiscellaneous Expense	Miscellaneous Expense	Miscellaneous Expense
	Accounts ReceivableCashDividendsFees EarnedRetained EarningsRetained Earnings	Retained Earnings	Retained Earnings
July 31	CashFees EarnedMiscellaneous ExpenseRent ExpenseRetained EarningsRetained Earnings	Retained Earnings	Retained Earnings
	DividendsFees EarnedMiscellaneous ExpenseRent ExpenseWages ExpenseDividends	Dividends	Dividends

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