Following are selected accounts and their balances for a company after all adjustments as of Dec 31, the end of its fiscal year. All accounts have normal balances E. Smith, Capital E. Smith, Withdrawals Rental Fees Earned Salaries Expense Insurance Expense Prepaid Insurance Salaries Payable Equipment Depreciation Expense $12,400 $20,000 $10,000 $1,500 $2,400 $4.250 S16,000 Prepare all necessary closing entries for this company