Prepare the Necessary Closing Entries Based on the Following Selected

Essay

Prepare the necessary closing entries based on the following selected accounts. $$\begin{array} { l r } \text { Accumulated Depreciation } & \$ 10,000 \\\text { Depreciation Expense } & 4,000 \\\text { Retained Earnings } & 20,000 \\\text { Dividends } & 12,000 \\\text { Salaries and Wages Expense } & 18,000 \\\text { Service Revenue } & 31,000\end{array}$$