After adjusting entries are made your company has the following account balances on 12/31/2019: Cash $102,500, Accounts Receivable $2,500, Accounts Payable $500, Common Stock $15,000, Retained Earnings $7,000, Revenue $245,000, Wages Expense $150,000, Rent Expense $10,000, Supplies Expense $2,500. What is the closing journal entry needed on 12/31/2019? DR Revenue $245,000; CR Wages Expense $150,000; CR Rent Expense $10,000; CR Supplies Expense $2,500; CR Retained Earnings $82,500 DR Accounts Payable $500; DR Common Stock $15,000; DR Retained Earnings $89,500; CR Cash $102,500; CR Accoudnts Receivable $2,500 DR Cash $102,500; DR Accounts Receivable $2,500, CR Accounts Payable $500; CR Common Stock $15,000; CR Retained Earnings $89,500 DR Retained Earnings $82,500; DR Wages Expense $150,000, DR Rent Expense $10,000; DR Supplies Expense $2,500; CR Revenue $245,000 How does a debit to Accounts Receivable and a credit to Revenue affect the accounting equation? An increase in Assets and another increase in Assets No net change. Assets are both increased and decreased Increase in Assets and an increase in Stockholders' Equity An increasein Assets and an increase in Liabilities Question 10 0.5 pts How does a debit to Cash and credit to Accounts Receivable affect the accounting equation? An increase to Assets and an increase in Liabilities An increase in Assets and another increase in Assets No net change. Assets are both increased and decreased Increase in Assets and an increase in Stockholders' Equity