Question: After the accounts have been adjusted at October 31, the end of the fiscal year, the following balances were taken from the ledger of Smart Delivery Services Co.:
| Retained Earnings |
$3,513,000 |
| Dividends |
42,500 |
| Fees Earned |
1,324,000 |
| Wages Expense |
749,100 |
| Rent Expense |
68,800 |
| Supplies Expense |
14,600 |
| Miscellaneous Expense |
7,350 |
Journalize the four entries required to close the accounts. Refer to the Chart of Accounts for exact wording of account titles.