Record closing entries

Module 1/Chapter 3c Saved Help Save & Exit Submit Exercise 3-17 (Algo) Record closing entries (LO3-6) 1 Malibu Corporation's fiscal year-end is December 31, 2024. The following is a partial adjusted trial balance as of December 31. Accounta Debit Credit Retained Earnings Dividends $14,000 $1,400 Service Revenue 34,000 4,400 13,400 4,400 Interest Revenue. Salaries Expense Rent Expense Advertising Expense Insurance Expense Interest Expense 1,400 9,400 3,400 Required: 1. Prepare the necessary closing entries. 2. Calculate the ending balance of Retained Earnings. Complete this question by entering your answers in the tabs below. Required 11 Required 2 Prepare the necessary closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in th first account field.) View transaction list Journal entry worksheet 1 of 3 Next > 2.66 points Print References Mc Graw Prev