17. CLOSING ENTRIES. (4 Marks) The following accounts for Capetown Laundry and Dry- Cleaning appeared on the adjusted Trial Balance of August 31, 2010. Record the closing entries. Cash Accounts Receivable 10,000 300 Laundry Supplies 860 Laundry Equipment Accumulated Amortization/Laundry Equipment 50,000 13,500 Accounts Payable Unearned Dry-cleaning Revenue Notes Payable (due in 3 years) Sam Capetown, Capital Sam Capetown, Withdrawals 4,700 500 10,000 27,560 3,000 Laundry Revenue Dry-cleaning Revenue Salaries Expense Laundry Supplies Expense Utility Expense 12,500 11,000 11,750 3,100 750 DATE ACCOUNT DEBIT CREDIT