Boxford Auto Repair had the following account balances after adjustments. Assume all accounts had normal balances. (Click the icon to view the account balances.) 14. Prepare the closing entries for Boxford at December 31. 15. What is the balance of Retained Earnings after closing entries have been recorded? (Use a T-account to determine the balance.) 14. Prepare the closing entries for Boxford at December 31. (Record debits first, then credits. Select the explanation on the last line of the jour First we will close the Service Revenue account. Date Accounts and Explanation Debit Credit Clos (1) Next we will close the expense accounts. Date Accounts and Explanation Debit Credit Clos. (2) Choose from any list or enter any number in the input fields and then continue to the next question. 0 Data Table Cash $ Accounts Receivable Prepaid Rent 2,020 2,900 2,300 3,400 34,500 Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Notes Payable (long-term) Common Stock Retained Earnings, January 1 Dividends Service Revenue Depreciation Expense Equipment Salaries Expense Rent Expense Utilities Expense Supplies Expense 12,000 20,620 1,600 1,600 100 600 400 1,100 500 5,900 8,400 Print Done per in the input fields and then continue to the next question. Boxford Auto Repair had the following account balances after adjustments. Assume all accounts had normal balances. Click the icon to view the account balances.) 14. Prepare the closing entries for Boxford at December 31. 15. What is the balance of Retained Earnings after closing entries have been recorded? (Use a T-account to determine the balance.) Finally close the Dividends account Date Accounts and Explanation Debit Credit Clos. (4) 15. What is the balance of Retained Eamings after closing entries have been recorded? (Use a Taccount to determine the balance.) Use "Clos" and the references "Clos (1)","Clos (2)", etc. The adjusted balance of this account has been entered for you. Post any closing entries to this account and then Retained Earnings 20.620 Bal. Choose from any list or enter any number in the input fields and then continue to the next