Paradise Gardens Hire Ltd’s income statement is presented below. During the year, directors declared and paid a dividend of $16 000.

Required

(a) Prepare the necessary general journal entries to close the accounts of the company.

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Account Cash at bank Accounts receivable Building supplies Prepaid insurance Utility vehicle Accumulated depreciation - utility Accounts payable Salaries payable Interest payable Mortgage payable Unearned revenue B. Johns, capital B. Johns, drawings Sales Salaries expense BEN'S BUILDING BUILDERS Adjusted trial balance as at 30 June 2026 Debit $ 52 430 64760 15420 7170 92 520 Credit $ 46260 15420 5240 8020 20050 17270 46250 37010 180110 36080 2780 1540 10790 Insurance expense Interest expense Depreciation expense Building supplies expense Rent expense 5240 12340 $338 620 $338 620