18 10 points 01:25:03 Question #19 Improv Club (IC) features entertaining improvisational theatre performances. The theatre features a range of shows and talented performers. IC prepares financial statements on an annual basis. The following year-end accounts as of December 31, 2020 are listed in alphabetical order and have normal balances. Accumulated depreciation, equipment Cash Depreciation expense, equipment Equipment Insurance expense Nick Stilz, capital Nick Stilz, withdrawals Prepaid insurance Rent expense Salaries expense Supplies Supplies expense Ticket revenue Unearned revenue $ 11,625 47,500 3,450 40.500 2,520 98,500 31,250 5,540 62,500 42,900 2,500 5,600 129,535 4,600 Required: Prepare the closing entries for the company. View transaction list Journal entry worksheet 1 2 3 4 Record to close the revenue account to the income summary. Note: Enter debits before credits Date December 31, 2020 General Journal Debit Credit Record entry Clear entry View general journal