each account would Current liabilities; (d) Long-term la December 31, 20Y8, balance sheet of San Jose Consulting. 5. Salaries Payable 6. Supplies 3. Notes Payable (due in five years) 7. Taxes Payable 8. Unearned Service Fees 1. Building 2. Common Stock 4. Prepaid Rent 4. Closing entries After the accounts have been adjusted at October 31, the end of the fiscal year, the balances were taken from the ledger of Smart Delivery Services Co.: Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Supplies Expense Miscellaneous Expense Journalize the two entries required to close the accounts $3,550,000 40,000 1,145,000 740,000 65,000 14,750 8,800 5. Accounting cycle From the following list of steps in the accounting cycle, identify the two steps that a. Transactions are analyzed and recorded in the journal. b. An unadjusted trial balance is prepared. c. Adjustment data are assembled and analyzed