29,500 19,000 26,280 11,000 575,500 11,170 65,700 Accounts payable Accounts receivable Accumulated depreciation - equipment Cash Cost of goods sold Depreciation expense Equipment Insurance expense Interest expense Interest revenue Inventory Notes payable (due in 2024) Notes receivable (due in 2021 Rent expense Sales Supplies expense Unearned revenue Bruce, capital (no capital investments in year) Bruce, drawings 2,900 2.000 960 57,000 38,990 33,260 15,500 686,000 5,600 5,900 72,200 61,200 Required (2 marks) Prepare the closing entry for sales and drawings. Assume that sales was first closed to the income summary PSP Parastaph BTU MacBook Air