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Business, 17.02.2020 20:53 rileyallen4186pd5tgy

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, 2016
Accounts Receivable $28,200
Accounts Payable 7,910
Salaries Payable 11,700
Cash 42,500
Dividends 4,900
Operating Expense 2,880
Prepaid Rent 3,400
Rent Expense 7,000
Retained Earnings 1/1/2016 20,300
Salaries Expense 32,600
Service Revenue 80,500
Supplies 320
Supplies Expense 2,100
Common Stock 21,900
Unearned Revenue 6,510
Land 14,900

Prepare the journal entries necessary to close the temporary accounts at December 31, 2016, for Zone Health Club.

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