Journalize the closing entries. Include Posting References, using the account numbers in your spreadsheet. The retained earnings account is #$32$ in the ledger of PS Music.

Refer to your answers from Chapter $4,$ Part $1$ to complete this part.

If an amount box does not require an entry, leave it blank.

Chapter $4-$ Instruction #$1$

The adjusted trial balance of PS Music as of July $31,20Y5$ is shown below:

$\backslash$table$[[,$Account No$.$ Debit Balances Credit Balances,,$],[$Cash$,11,9,945,],[$Accounts Receivable,$12,4,150,],[$Supplies$,14,275,],[$Prepaid Insurance,$15,2,475,50],[$Office Equipment,$17,7,500,8,350],[$Accumulated Depreciation$-$Office Equipment,$18,140,],[$Accounts Payable,$21,3,600,],[$Wages Payable,$22,9,000,],[$Unearned Revenue,$23,21,200,],[$Common Stock,$31,,],[$Dividends$,33,1,750,],[$Fees Earned,$41,,],[$Music Expense,$54,3,610,],[$Wages Expense,$50,2,940,2,550],[$Office Rent Expense,$51,1,500,],[$Advertising Expense,$55,,]]$