2,500 5,400 8) Prohibition Ltd, trial balance at December 31, 20207, is shown below. Prepare the closing entries. Prohibition Ltd. Trial Balance December 31, 2020 Debit Credit Cash $16,400 Accounts receivable Prepaid insurance 3,400 Prepaid rent 6,500 Supplies 3,700 Equipment 27,500 Accumulated depreciation equipment $10,200 Furniture 15,000 Accumulated depreciation-furniture 7,600 Accounts payable Salary payable 1.400 Unearned revenue 6,500 Common shares 20,600 Retained earnings 15,800 Dividends 3,000 Fees earned 28,900 Salary expense 4,900 Depreciation expense-equipment 3,800 Depreciation expense-furniture 2,500 Rent expense 4.800 Insurance expense 1,200 Supplies expense 500 Advertising expense 700 $96,400 $96,400