Current Attempt in Progress An alphabetical list of the adjusted account balances (all accounts have normal balances) at August 31, 2021, for Crane Bowling Lanes is as follows Accounts payable $8,500 Notes payable $25,300 Accounts receivable 11,070 Prepaid insurance 820 Accumulated depreciationequipment 18,600 Service revenue 36,900 Cash 19,850 Supplies 740 Depreciation expense 9,300 Supplies expense 7,845 Equipment 83,545 T Williams, capital 85,500 Insurance expense 4,100 T Williams, drawings 19,000 Interest expense 600 Unearned revenue 980 Prepare the closing entries at August 31, 2021 (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 Aug 31 Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT Williams, CapitalT Williams, DrawingsUnearned Revenue Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT Williams, CapitalT Williams, DrawingsUnearned Revenue (To close revenue accounts) Aug 31 Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT Williams, CapitalT Williams, DrawingsUnearned Revenue Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT Williams, CapitalT Williams, DrawingsUnearned Revenue Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT Williams, CapitalT Williams, DrawingsUnearned Revenue Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT Williams, CapitalT Williams, DrawingsUnearned Revenue Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT Williams, CapitalT Williams, DrawingsUnearned Revenue (To close expense accounts) Aug 31 Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT Williams, CapitalT Williams, DrawingsUnearned Revenue Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT Williams, CapitalT Williams, DrawingsUnearned Revenue (To close profit to capital) Aug 31 Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT Williams, CapitalT Williams, DrawingsUnearned Revenue Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT Williams, CapitalT Williams, DrawingsUnearned Revenue (To close drawings account)

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Current Attempt in Progress An alphabetical list of the adjusted account balances (all accounts have normal balances) at August 31, 2021, for Crane Bowling Lanes

Current Attempt in Progress

An alphabetical list of the adjusted account balances (all accounts have normal balances) at August 31, 2021, for Crane Bowling Lanes is as follows:

Accounts payable	$8,500	Notes payable	$25,300
Accounts receivable	11,070	Prepaid insurance	820
Accumulated depreciationequipment	18,600	Service revenue	36,900
Cash	19,850	Supplies	740
Depreciation expense	9,300	Supplies expense	7,845
Equipment	83,545	T. Williams, capital	85,500
Insurance expense	4,100	T. Williams, drawings	19,000
Interest expense	600	Unearned revenue	980

Prepare the closing entries at August 31, 2021. (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
Aug. 31	Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT. Williams, CapitalT. Williams, DrawingsUnearned Revenue
	Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT. Williams, CapitalT. Williams, DrawingsUnearned Revenue
	(To close revenue accounts)
Aug. 31	Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT. Williams, CapitalT. Williams, DrawingsUnearned Revenue
	Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT. Williams, CapitalT. Williams, DrawingsUnearned Revenue
	Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT. Williams, CapitalT. Williams, DrawingsUnearned Revenue
	Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT. Williams, CapitalT. Williams, DrawingsUnearned Revenue
	Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT. Williams, CapitalT. Williams, DrawingsUnearned Revenue
	(To close expense accounts)
Aug. 31	Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT. Williams, CapitalT. Williams, DrawingsUnearned Revenue
	Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT. Williams, CapitalT. Williams, DrawingsUnearned Revenue
	(To close profit to capital)
Aug. 31	Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT. Williams, CapitalT. Williams, DrawingsUnearned Revenue
	Accounts PayableAccounts ReceivableAccumulated DepreciationEquipmentCashDepreciation ExpenseEquipmentIncome SummaryInsurance ExpenseInterest ExpenseNo EntryNotes PayablePrepaid InsuranceService RevenueSuppliesSupplies ExpenseT. Williams, CapitalT. Williams, DrawingsUnearned Revenue
	(To close drawings account)