After reading Chapter 5 of your textbook, complete the following assignment. Create a Closing Process Entry with the information below: Please remember to differentiate between Temporary and Permanent Accounts before attempting to do the following example.

Capital = $ 10,000

Withdrawals = $ 200

Cash = $ 5,000

Revenue = $ 20,000

Expenses = $ 6,700

Accounts Receivable = $ 1,000

Prepaid Rent=$ 1,500