Instructions Chart of Accounts The following T accounts summarize entries made to selected general ledger accounts of Cooper & Company. Certain entries, dated December 31, are closing entries. ASSETS REVENUE 411 Maintenance Revenue 111 Cash Maintenance Revenue 121 Accounts Receivable 141 Inventory EXPENSES 12/31 90,000 12/1 Bal. 64,000 500 Cost of Goods Sold 12/15 13,000 521 Wages Expense 152 Prepaid Insurance 154 Supplies 174 Equipment 179 Accumulated Depreciation 12/30 13,000 532 Utilities Expense Wages Expense 533 Insurance Expense 534 Rent Expense 537 Supplies Expense 12/1 Bal 11,000 12/31 12,000 LIABILITIES 211 Accounts Payable 231 Salaries and Wages Payablo 12/15 500 12/30 500 541 Depreciation Expense 551 Advertising Expenso 559 Miscellaneous Expenses 810 Interest Expense 235 Notes Payable Supplies Expense General Journal yable 910 Income Tax Expense 12/1 Bal. 2.500 12/31 2.750 12/31 250 PAGE 1 GENERAL JOURNAL Retained Earnings DATE POST. REF DEBIT CREDIT 12/31 5,000 12/1 Bal. 45,000 ACCOUNT TITLE Closing Entries 12/31 75,250 2 3 Dividends 4 12/1 Bal. 5,000 12/31 5.000 5 Income Summary 12/31 14.750 12/31 90,000 7 12/31 75,250 a 9 Required: 10 Prepare the closing entries that were made on December 31