Kathy Seeborne

Adjusted Trial Balance

As at 30 June 2020

Account	Debits $	Credits $
Cash at Bank	60,000
Accounts Receivable	64,000
Prepaid Rent	24,000
Inventory	328,000
Equipment	560,000
Accumulated Depreciation - Equipment		280,000
Land	640,000
Accounts Payable		164,000
Unearned revenue		96,000
Mortgage Loan		520,000
Capital		680,000
Drawings	160,000
Sales Revenue		920,000
Fee Revenue		80,000
Depreciation Expense	180,000
Electricity Expense	140,000
Rent Expense	220,000
Wages Expense	364,000
TOTALS	2,740,000	2,740,000

Required

From the Adjusted Trial Balance provided above prepare the appropriate Closing Journal entries for the year ended 30 June 2020. Narrations are required.