Chapter 3 Graded Practice Exercises Navigation D000000 Finish attempt Question 2 Not com Marked out of 2.00 P Flag question Prepare Closing Entries to Retained Earnings The Century Company's adjusted trial balance contains the following balances as of December 31: Retained Earnings 58,500; Dividends $2,000; Sales $20,000; Cost of Goods Sold 58,000; Selling and Administrative Expenses $3,000, Interest Expense $1,500. Prepare the closing entries for The Century Company. Close the temporary accounts straight to retained earnings. General Journal Description Debit Credit To close the revenue account Cost of goods sold Selling and administrative expense To close the expense accounts. int is from Dividends Interest expense Th Net income Retained earnings $ Sales Total expenses erine of the year. What is the ending retained earnings balance after posting the closing Check