9) Clay Industries had the following adjusted Trial Balance: Clay Industries Adjusted Trial Balance December 31st Debit Credit Cash 25,000 Accounts Receivable 8,600 Supplies 5,000 Prepaid Rent 2,400 Land 145,000 Building 60,000 Accumulated Depreciation 15,000 Accounts Payable 13,000 Common Stock 8,000 Retained Earnings 115,000 Dividends 15,000 195,000 Service Revenue Salary Expense 80,000 3,600 Rent Expense Supplies Expense 500 900 Utilities Expense Totals 346,000 346,000 Prepare Clay's closing entries, showing the effect of the closing entries in Clay's T- accounts.