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The 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 Accounts payable Salaries payable Cash Dividends Operating expense Prepaid rent Rent expense Retained earnings, Beginning Salaries expense Service revenue Supplies Supplies expense Common stock Unearned revenue Land $ 25,500 7,780 11,600 43,600 4,700 2,650 3,700 7,700 18,800 32,800 76,600 400 2,710 24,100 7,120 14,200 Required a. 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? Complete this question by entering your answers in the tabs below. Required A Required B Prepare the journal entries necessary to close the temporary accounts at December 31, Year 2, for Zone Honith Club. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list View Journal entry worksheet No Event General Journal Credit Debit 76,600 A 1 Service revenue B 2 Operating expense Rent expense Salaries expense Suppliers expense 2,650 7.700 32.800 2,710 3 Retained earnings Required B ces Required A Required B What is the balance in the Retained Earnings account after the closing entries are posted? Retained Earnings, Year 2 Beginning retained earnings $ 18,800 Add: Revenue Less: Dividends 4,700 Ending retained earnings

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