Accounting

Presented below is an adjusted trial balance for Shawn Company, at December 31, 2020. Cash $ 7,700 $10,000 Accounts receivable 20,000 Accounts payable Prepaid insurance 15,000 Notes payable 9,000 Equipment Accumulated depreciation Eqipment 14,000 35,000 Service revenue 29,000 Depreciation expense 7,000 Owner's capital 24,000 Owner's Drawings 1,500 Unearned service revenue 16,000 Advertising expense 1,400 Rent expense 800 Salaries and wages expense 12,000 Insurance expense 1.600 $102,000 $102,000 Instructions Prepare closing entries for December 31, 2020