2. Using the following trial balance, prepare closing entries: $ 15,200 200 1,000 550 5, 000 Cash Accounts receivable Merchandise inventory office supplies Equipment Accumulated depreciation, equipment Accounts payable Salaries payable Rent payable Common Stock Retained Earnings Dividends Service Revenue Cost of Goods Sold Rent expense Advertising expense Office supplies expense Depreciation expense, building Totals s 40 7,500 850 1,200 10,000 500 10,600 5,200 1,500 900 50 90 $30,190 $30.190 Debit Credit To close out revenues) 12/31 (To close out expenses) To close out income summary) To close out dividends)