Question: please help me answer this question Summit Services Co. offers its services to individuals desiring to improve their personal images. After the accounts have been

please help me answer this question  please help me answer this question Summit Services Co. offers its
services to individuals desiring to improve their personal images. After the accounts
have been adjusted at May 31, the end of the fiscal year,

Summit Services Co. offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted at May 31, the end of the fiscal year, the following balances were taken from the ledger of Summit Services: $604,560 15,600 523,800 Fees Earned Dividends Rent Expense Retained Earnings Supplies Expense Wages Expense Miscellaneous Expense 474,000 72,000 10,960 14.000 Journalize the closing entries required to close the accounts. Refer to the Chart of Accounts for exact wording of account bles. CHART OF ACCOUNTS Summit Services Co. General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 13 Prepaid Rent EXPENSES 14 Supplies 51 Wages Expense 52 Rent Expense 53 Supplies Expense 54 Miscellaneous Expense LIABILITIES 21 Accounts Payable 22 Wages Payable 23 Unearned Fees EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends Journalize the closing entries required to close the accounts. Refer to the Chart of Accounts for exact wording of account titles. PAGE 11 JOURNAL ACCOUNTING EQUATION ASSETS DET CREDIT LIABILITIES DATE EQUITY POST. REF DESCRIPTION Closing Entries 3 4 5 6 7 3 9

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