Discussion topic
think of an unanticipated major expense that you might face in the next five years. discuss how you will ensure that it does not devastate you financially.

For the year ended december 31, a company has revenues of $323,000 and expenses of $199,000. the company paid $52,400 in dividends during the year. the balance in the retained earnings account before closing is $87,000. which of the following entries would be used to close the dividends account?