Joe's Pool Service had the following selected accounts and normal balances listed on its December $31$ adjusted trial balance:

View the accounts and balances.

Journalize the closing entries for Joe's Pool Service. $($Record debits first, then credits. Select the explanation on the last line of the journal entry table.$)$

Start by closing revenues.

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[$Dec$.31],[,$H$,,],[,,,],[,,,],[,,,$A$]]$

Close all the expense accounts for the period.

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[$Dec$.31],[,,,],[,,,],[,,,],[,15,,],[,,,],[,,,]]$

Close Income Summary.

Date

Accounts and Explanation

Debit

Credit

Accounts and balances

$\backslash$table$[[$Service Revenue,$61,000],[$Accounts Payable,$4,700],[$Salaries Expense,$25,000],[$Common Stock,$112,000],[$Utilities Expense,$20,000],[$Cash$,118,500],[$Depreciation Expense$-$Equipment,$6,400],[$Land$,57,000],[$Insurance Expense,$32,000],[$Retained Earnings,$133,600],[$Supplies Expense,$1,200],[$Equipment$,42,000],[$Dividends$,28,000],[$Supplies$,900],[$Salaries Payable,$3,700],[$Accumulated Depreciation$-$Equipment,$16,000]]$