Janes adjusted trial balance on December 31, 2020, appears in the worksheet as follows: Account Debit Credit Cash $ 28,000 Office supplies 1,800 Prepaid insurance 4,200 Equipment 18,000 Accumulated depreciation, equipment $ 7,500 Accounts payable 19,000 Salaries payable 8,800 Jane, capital 140,000 Jane, withdrawals 16,000 Rental revenue 127,600 Depreciation expense, equipment 8,500 Salaries expense 104,500 Insurance expense 1,900 Rent expense 52,300 Office supplies expense 4,800 Utility expense 2,900 Totals $ 312,900 $ 312,900

Required: 1. Prepare closing entries