Joe's Tax Service Adjusted Trial Balance December 31, 2020 capital Accounts Debits Credits cash 8,000 accounts receivable 4,500 equipment 12,500 accumulated depreciation 6,000 accounts payable 8,300 unearned rent revenue 3,000 17,900 drawing 4,000 service revenue 7,500 rent revenue 4,750 depreciation expense 850 utilities expense 9,500 advertising expense 8,100 47,450 47,450 On January 1, the owner, Joe Namath, had a capital balance of $12.900. Joe invested an additional $5,000 during the year. Instructions (a) Prepare closing entries at December 31. Description Debit Credit (b) Prepare an owner's equity statement in good form for 2020