Below are the adjusted accounts of Sterling Company for the month ended May 31, 20x5, listed in

alphabetical order: Prepare Sterling's closing entries

Accounts Payable $6,000 Office Equipment $75,000

Accounts Receivable 24,000 Prepaid Rent 11,000

Accumulated Depreciation- Salaries Expense 18,000

Office Equipment 30,000 Paul Sterling, Capital 60,000

Cash 12,000 Paul Sterling, Withdrawals 7,500

Commissions Revenue 54,000 Utilities Expense 1,000

Depreciation Expense-

Office Equipment 1,500