98'500 At the end of its first month of operations, Watson Answering Service has the following 7+3 unadjusted trial balance. WATSON ANSWERING SERVICE August 31,2016 Trial Balance CS CamScanner Particular Cash Accounts Receivable Debit Credit 5,400 2,800 Prepaid Insurance 2,400 Supplies 1,300 Equipment 60,000 Notes Payable 40,000 Accounts Payable 2,400 Ray Watson, Capital 30,000 Ray Watson, Drawing 1,000 4,500 Service Revenue 4,900 Salaries Expense 3,200 Utilities Expense 800 Advertising Expense 400 Total Tk.77,300 Tk.77,300 $2,50 Other data consist of the following: a) Insurance expires at the rate of Tk.200 per month. b) There is Tk.1, 000 of supplies on hand at August 31. c) Monthly depreciation on the equipment is Tk.900. d) Interest of Tk.500 on the notes payable has accrued during August. Required: Prepare a work sheet. And also journalize the closing entries 73800