General Journal entry options:

• No Journal Entry Required
• Accounts Payable
• Accounts Receivable
• Accumulated DepreciationEquip.
• Advertising Expense
• Cash
• Common Stock
• Depreciation Expense
• Dividends
• Equipment
• Income Tax Expense
• Income Taxes Payable
• Interest Revenue
• Rent Expense
• Retained Earnings
• Salaries and Wages Expense
• Service Revenue
• Supplies Expense
• Unearned Revenue

On December 31, 2016, Ditka Inc. had Retained Earnings of $278,800 before its closing entries were prepared and posted. During 2016, the company had service revenue of $179,100 and interest revenue of $86,800. The company used supplies in the amount of $93,400, advertising expenses were $17,500, salaries and wages totaled $19,950, and income tax expense was calculated as $15,900. During the year, the company declared and paid dividends of $7100. Required: Prepare the closing entries dated December 31, 2016. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the entry for closing revenue and expense account. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal b. Prepare T-account for the Retained Earnings account. Retained Earnings Beg. Bal End. Bal View transaction list X: Import a new list 1 Record the entry for closing revenue and expense account. 2 Record the entry for closing dividend account. Credit Note:journal entry has been entered Record entry Clear entry View general journal