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  3. the ledger of rios company contains the following

The ledger of Rios Company contains the following balances: Retained Earnings $28,000; Dividends $3,000; Service...

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Accounting

The ledger of Rios Company contains the following balances: Retained Earnings $28,000; Dividends $3,000; Service Revenue $49,000; Salaries and Wages Expense $26,000; and Supplies Expense $7,000. Prepare the closing entries at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit
Dec. 31

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(To close revenue account)
Dec. 31

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(To close expense accounts)
Dec. 31

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(To close net income/ (loss))
Dec. 31

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(To close dividends)

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