Management InfoSys Incorporated had the following account balances at year end

Management InfoSys Incorporated had the following account balances at year end. Sales Salaries Expense Dividend Revenue Interest Expense Gain on Sale of Equipment Required: prepare the closing entries a $950,000 Rent Expense 435,000 Utilities Expense 5,500 Depreciation Expense 9.500 Income Tax Expense 6,000 Insurance Expense December 31. $115,000 11,000 26,500 40,000 22,000