Closing Entries.

Okabe Company ended its fiscal year on July 31, 2019. The companys 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 DepreciationEquip. $ 7,400 (Cr.)

201 Accounts Payable 4,220 (Cr.)

208 Unearned Rent Revenue 1,800 (Cr.)

301 Owners Capital 45,200 (Cr.)

306 Owners 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.