Prepare Closing Entries to Retained Earnings The Century Company's adjusted trial balance contains the following balances...

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Prepare Closing Entries to Retained Earnings The Century Company's adjusted trial balance contains the following balances as of December 31: Retained Earnings $25,500: Dividends $6,000; Sales $60,000; Cost of Goods Sold $24,000; Selling and Administrative Expenses $9,000; Interest Expense $4,500. Prepare the closing entries for The Century Company. Close the temporary accounts straight to retained earnings. General Journal Description To close the revenue account : • To close the dividends account. C Cost of goods sold Selling and administrative expense 0 To close the expense accounts. : 4 Debit 0 0 OO 0 0 0 0 0 OO 0 Credit 0 0 0 0 0 0 0 The balance of $25,500 in the retained earnings account is from the beginning of the year. What is the ending retained earnings balance after posting the closing entries? I 50 Check Prepare Closing Entries to Retained Earnings The Century Company's adjusted trial balance contains the following balances as of December 31: Retained Earnings $25,500: Dividends $6,000; Sales $60,000; Cost of Goods Sold $24,000; Selling and Administrative Expenses $9,000; Interest Expense $4,500. Prepare the closing entries for The Century Company. Close the temporary accounts straight to retained earnings. General Journal Description To close the revenue account : • To close the dividends account. C Cost of goods sold Selling and administrative expense 0 To close the expense accounts. : 4 Debit 0 0 OO 0 0 0 0 0 OO 0 Credit 0 0 0 0 0 0 0 The balance of $25,500 in the retained earnings account is from the beginning of the year. What is the ending retained earnings balance after posting the closing entries? I 50 Check

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