ES tudy Sunland Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal ye Sunland Company Adjusted Trial Balance July 31, 2020 No. Account Titles Debit Credit 101 Cash $9,300 112 Accounts Receivable 8,900 157 Equipment 16,100 158 Accumulated Depreciation ---Equip $7,200 201 Accounts Payable 4,100 208 Unearned Rent Revenue 1,600 301 Owner's Capital 46,200 306 owner's Drawings 16,400 400 Service Revenue 63,800 429 Rent Revenue 6,700 711 Depreciation Expense 7,500 726 Salaries and Wages Expense 56,400 732 Utilities Expense 15,000 $129,600 $129,000 FULL Debit 63800 Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Credit July 31 Service Revenue Rent Revenue 6700 Income Summary (To close revenue accounts) July 31 Income Summary Depreciation Expense Salaries and Wages Expense Utilities Expense (To close expense accounts) July 31 Owner's Capital 16400 Income Summary 16400 (To close net income! (oss) Post to Owner's Capital and Income Summary accounts. (Post entries in the order of journal entries presente negative sign preceding the number 0.g. -45 or parentheses e.g. (45).) tudy Owner's Capital No. 301 Date Explanation Debit Credit Balance July 31 July 31 July 31 Income Summary No. 350 Date Explanation Debit Credit Balance July 31 July 31 July 31 SHOW LIST OF ACCOUNTS Prepare a post-closing trial balance at July 31. SUNLAND COMPANY Post-Closing Trial Balance Debit Credit Totals