Data Table $ 8,000 28,110 1,600 2,200 Cash Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Notes Payable (long-term) 5,210 2,900 2.300 2,700 35,500 1,700 5,700 7,600 500 Common Stock Retained Earnings, January 1 Dividends Service Revenue Depreciation Expense-Equipment Salanes Expense Rent Expense Utilities Expense Supplies Expense 500 800 1,000 300 Print Done Billings 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 Billings at December 31 15. What is the balance of Retained Eamings after closing entries have been recorded? (Use a T-account to determine the balance.) 14. Prepare the closing entries for Billings at December 31 (Record debits first, then credits. Select the explanation on the last line of the journal entry table) First we will close the Service Revenue account Accounts and Explanation Credit Date Debit 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 Now we will close the Income Summary account Date Accounts and Explanation Debit Credit Clos (3) Finally close the Dividends account. Date Accounts and Explanation Debit Credit Clos. (4) Choose from any list or enter any number in the input fields and then continue to the next question. 1 W ISHT Chocolate