E4-8 Recording Transactions including Adjusting and Closing Entries (Nonquantitative) LO4-1, 4-4 The following accounts are used by Britt's Knits Inc. Code Accounts Cash B Office supplies Accounts receivable Office equipment E Accumulated depreciation F Note payable G Wages payable H Interest payable Deferred service revenue HIMO Code Accounts J Contributed capital Retained earnings L Service revenue M Interest revenue N Wage expense 0 Depreciation expense P Interest expense Supplies expense R None of the above Required: For each of the following nine independent situations, give the journal entry by selecting the appropriate code(s) from the drop-down menu and enter the amount(s). The first transaction is used as an example. Code N Debit Amount 1.250 Code G Credit Amount 1,250 Independent Situations a. Accrued wages, unrecorded and unpaid at year-end, $1,250. b. Service revenue earned but not yet collected at year-end, $1,450. c. Dividends declared and paid during the year. $1,750. d. Office supplies on hand during the year, $1,250; supplies on hand at year-end, $330. o. Service revenue collected in advance and not yet eamed, $1,650. 1. Depreciation expense for the year, $2,700. 9. At year-end, interest on note payable not yet recorded or paid $390. h. Balance at year-end in Service Revenue account. $73,000. Give the closing entry at year-end 1. Balance at yoar-end in Interest Expense account, $630. Give the closing entry at year-end