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Prepare closing entries to Retalhed Earnings The Century Company's adjusted trial balance contains the following...

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Accounting

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Prepare closing entries to Retalhed Earnings The Century Company's adjusted trial balance contains the following balances as of December 31: Retained Earnings $17,000; Dividends $4,000; Sales $40,000; Cost of Goods Sold $16,000; Selling and Administrative Expenses $6,000; Interest Expense $3,000. Prepare the closing entries for The Century Company. Close the temporary accounts straight to retained earnings. General Journal Description Debit To close the revenue account. Cost of goods sold Selling and administrative expense To close the expense accounts. To close the dividends account. The balance of $17,000 in the retained earnings account is from the beginning of the year. What is the ending retained earnings balance after posting the closing entries

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