Cullumber Company has the following year-end account balances on November 30, 2021: Service Revenue $40,000; Insurance Expense $2,700; Rent Expense $7,100; Supplies Expense $1,750; L. Wilfrid, Capital $40,000; and L. Wilfrid, Drawings $29,000.

Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Nov. 30	Insurance ExpenseIncome SummaryNo EntryL. Wilfrid, CapitalL. Wilfrid, DrawingsRent ExpenseSupplies ExpenseService Revenue
	Insurance ExpenseIncome SummaryNo EntryL. Wilfrid, CapitalL. Wilfrid, DrawingsRent ExpenseSupplies ExpenseService Revenue
	(To close revenue account)
Nov. 30	Insurance ExpenseIncome SummaryNo EntryL. Wilfrid, CapitalL. Wilfrid, DrawingsRent ExpenseSupplies ExpenseService Revenue
	Insurance ExpenseIncome SummaryNo EntryL. Wilfrid, CapitalL. Wilfrid, DrawingsRent ExpenseSupplies ExpenseService Revenue
	Insurance ExpenseIncome SummaryNo EntryL. Wilfrid, CapitalL. Wilfrid, DrawingsRent ExpenseSupplies ExpenseService Revenue
	Insurance ExpenseIncome SummaryNo EntryL. Wilfrid, CapitalL. Wilfrid, DrawingsRent ExpenseSupplies ExpenseService Revenue
	(To close expense accounts)
Nov. 30	Insurance ExpenseIncome SummaryNo EntryL. Wilfrid, CapitalL. Wilfrid, DrawingsRent ExpenseSupplies ExpenseService Revenue
	Insurance ExpenseIncome SummaryNo EntryL. Wilfrid, CapitalL. Wilfrid, DrawingsRent ExpenseSupplies ExpenseService Revenue
	(To close income summary)
Nov. 30	Insurance ExpenseIncome SummaryNo EntryL. Wilfrid, CapitalL. Wilfrid, DrawingsRent ExpenseSupplies ExpenseService Revenue
	Insurance ExpenseIncome SummaryNo EntryL. Wilfrid, CapitalL. Wilfrid, DrawingsRent ExpenseSupplies ExpenseService Revenue
	(To close drawings account)

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Calculate the balance in L. Wilfrid, Capital after the closing entries are posted.

Closing balance

$