16. Bob Evans owns a business, Beachside Realty, that rents condominiums and furnishings. Below is the adjusted trial balance at December 31, 2010, Debit Credit $ 1,500 2,000 100 1.600 2.800 15,000 Cash Accounts receivable Interest receivable Prepaid insurance Notes receivable (long-term) Equipment Accumulated depreciation Accounts payable Accrued expenses payable Income taxes payable Unearned rent fees Bob Evans, Capital Bob Evans, Drawing Rent fees eamed Furniture rental revenue Interest revenue Wages expense Depreciation expense Utilities expense Insurance expense Maintenance expense Income tax expense $3,000 2,400 3,920 2,700 500 7,700 2,000 37,000 1,200 100 19,000 1.800 320 700 9,000 2.700 $58.520 $ 58.520 Prepare the required closing entries to close the books for the period