Assume that you are the accountant of Sparkle Ltd.

Following information from adjusted trial balance is available :

Capital..............................$230,000

Revenue.............................$65,000

Unearned Revenue.........$10,000

Bank Loan..........................$50,000

Owner's Equity..................$44,000

Choose the correct answer for which journal will be regarded as the closing journal entry for Sparkle Ltd-

Capital Dr $230,000 & Owner's Equity Statement Cr $230,000

Owner's Equity Statement Dr $44,000 & Drawings Cr $44,000

Bank Loan Dr $50,000 & Owner's Equity Statement Cr $50,000

Revenue Dr $65,000 & Income Statement Cr $65,000

Unearned Revenue Dr $10,000 & Income statement Cr $10,000