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2. The following account balances are taken from the work sheet of Nifong Tire Service at December 31, 20X2: Rent Expense Utilities Expense Salaries Expense

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2. The following account balances are taken from the work sheet of Nifong Tire Service at December 31, 20X2: Rent Expense Utilities Expense Salaries Expense Supplies Expense Tire Service Revenue Alfred Nifong, Drawing Alfred Nifong, Capital $11,500 5,400 55,000 850 86,550 7,500 22,000 Prepare the closing entries needed in general journal form. (11 pts) General Journal 2

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