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2018-02-07 (4)png Photos See all photosAdd to a creation X Edit & Create Share AP3-10 (Closing entries and ending retained earnings balance) Presented below are the balances from Elsie's Electronics Ltd.'s general ledger as at September 30, 2016 DR 28,000 35,000 65,000 331,000 CR Cash Accounts receivable Inventory Equipment Accumulated depreciation, equipment Accounts payable Bank loan payable Unearned revenue Common shares Retained carnings Dividends declared Sales revenue Interest revenue Cost of goods sold Wages expense Rent expense Depreciation expense 150,000 120,000 70,000 22,000 10,000 70,000 18,000 488,000 2,000 316,000 70,000 26,000 43.000 Required a. Prepare the necessary closing entries for Elsie's Electronics at September 30 b. Determine the closing Retained Earnings account balance 43 AM O Type here to search ^40 ENG 2018-02-07