EIA - Preparation of Closing Entries Hamilton Realty Company's income statement accounts at the end of its fiscal year. December 31 follow. Prepare the required closing entries. Lewis Hamilton is the owner. Debit Credit $25,620 Account Name Commission Revenue Wages Expense Rent Expense Supplies Expense Insurance Expense Depreciation Expense-Office Equipment Total Expenses Net Income $8,110 1,200 4,260 915 1,345 15,830 $ 9,790 E1A. Preparation of Closing Entries Dec. 25,620 31 Commission Revenue Income Summary To close the revenue account 25,620