The income statement accounts for the Beede Realty Company at the end of its fiscal year are shown below. Prepare the required closing entries in journal form. John Beede is the owner?
Commission Revenue ..................................................... $25,620
Wages Expense ............................................. $8,110
Rent Expense ................................................ 1,200
Supplies Expense ............................................ 4,260
Insurance Expense .......................................... 915
Depreciation Expense-Office Equipment............... 1,345
Total Expenses ............................................................ 15,830
Net Income ................................................................ $ 9,790