Answer:
Journal Entry and their narrations is shown below:-
Explanation:
The Journal entry is shown below:-
1. Service Revenue Dr, $845,000
Retained Earnings $845,000
(Being close the revenue accounts is recorded)
2. Retained Earnings Dr, $592,000
($139,000 + $379,000 + 74,000
)
To Rent Expense $139,000
To Salaries Expense $379,000
To Interest Expense $74,000
(Being close the expense accounts is recorded)
3. Retained Earnings Dr, $49,000
To Dividends $49,000
(Being dividends is recorded)
