Chapter Four Exercise #1: Closing Entries. Okabe Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. OKABE COMPANY Adjusted Trial Balance July 31, 2017 No. Account Titles 101 Cash $9,840 (Dr.) 112 Accounts Receivable 8,780 (Dr.) 157 Equipment 15,900 (Dr.) 158 Accumulated Depreciation-Equip. $ 7,400 (Cr.) 201 Accounts Payable 4,220 (Cr.) 208 Unearned Rent Revenue 1,800 (Cr.) 301 Owner's Capital 45,200 (Cr.) 306 Owner's Drawings 16,000 (Dr.) 400 Service Revenue 64,000 (Cr.) 429 Rent Revenue 6,500 (Cr.) 711 Depreciation Expense 8,000 (Dr.) 726 Salaries and Wages Expense 55,700 (Dr.) 732 Utilities Expense 14,900 (Dr.) Instructions: Prepare the closing entries.