A portion of the work sheet for Wilderness Rentals for the period ended December 31 follows. 

Using the information from the work sheet, prepare the journal entries to close the temporary accounts.

1. Record the closing entry for the revenue account.

2. Record the closing entry for the expense accounts.

3. Record the closing entry for the Income Summary account.

4. Record the closing entry for the withdrawals account.

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ACCT. NO. ACCOUNT NAME 1 101 Cash in Bank 2 105 Accts. Rec.-Helen Katz 3 110 Accts. Rec.-Polk and Co. 4 115 Office Supplies 5 120 Office Equipment 6 125 Camping Equipment 7 201 Accts. Pay-Adventure Equip. Inc. 8 203 Accts. Pay.-Digital Tech Computers 9205 Accts. Pay-Greg Mollaro 10 301 Ronald Hicks, Capital 11 305 Ronald Hicks, Withdrawals 12 310 Income Summary 13 401 Equipment Rental Revenue 14 501 Advertising Expense 15 505 Maintenance Expense 16 515 Rent Expense 17 525 Utilities Expense 18 19 Net Income 20 21 T Wilderness Rentals Work Sheet For the Period Ended December 31, 20-- INCOME STATEMENT DEBIT CREDIT BALANCE SHEET DEBIT 700000 200000 100000 90000 1200000 600000 235000 1496500 150000 156000 100000 123000 17 529000 1496500 3125000 2157500 18 967500 967500 19 14 96500 1496500 3125000 31 25000 20 21 T 115. CREDIT SAWN- N 5 90000 7 40000 8 50000 9 1977500 10 67892228 11 12 13 14 15 16