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Akram Corporation has the following on a portion of its adjusted trial balance as of December...

Akram Corporation has the following on a portion of its adjusted trial balance as of December 31, 2016:
Account Debit Credit
Ticket revenues $960,000
Concession revenues $432,000
Cost of goods sold $624,000
Salaries expense $144,000
Dividends $96,000
1. Prepare the journal entry to close ticket revenues and concession revenues to income summary (3 points).
2. Prepare the journal entry to close cost of goods sold and salaries expense to income summary (3 points).
3. Prepare the journal entry to close income summary to retained earnings (2 points).
4. Prepare the journal entry to close dividends to retained earnings (2 points).
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