(Solved): The following financial information was taken from the books of Zone Health Club, a small spa and fi ...

The following financial information was taken from the books of Zone Health Club, a small spa and fitness club. Account Balances as of December 31, Year 2 Accounts Receivable $12,450 6,200 Accounts Payable 3,150 Salaries Payable Cash Dividends Operating Expenses Prepaid Rent Rent Expense Retained Earnings, Beginning Salaries Expense Service Revenue Supplies Supplies Expense Common Stock Unearned Revenue Land 36,750 2,000 Required a. Prepare the journal entries necessary to close the temporary accounts at December 31, Year 2, for Zone Health Club. b. What is the balance in the Retained Earnings account after the closing entries are posted? Required A 35,300 1,200 8,400 41,250 14,500 65,400 650 3,150 7,000 6,400 15,000 Complete this question by entering your answers in the tabs below. Required B < Prev 5 of 6 Next >