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numaining Time: 2 hours, 57 minutes, 09 seconds. Question Completion Status: Selected account balances are presented in the following adjusted balance of Jojo Company at December 31, 2019. Debit Credit Cash $9,000 Accounts Receivable 40,000 8,000 Supplies Prepaid Insurance 9,000 182,000 Equipment 59,700 7,000 Accumulated Depreciation Accounts Payable Unearned revenue Taxes payable Common stock 3.250 1.000 69,000 Retained Earnings 27.000 Dividends 8,000 Service Revenue 80 000 Sales Revenue 120.000 9 MB Hakerlake.jsp?course assessment_id= 206662_18course_id=_335324_1&content_id3127893_1&question_num_1.xOtoggl. Remaining Time: 2 hours, 56 minutes, 55 seconds. Question Completion Status: UTES Service Revenue 80,000 120,000 4,000 47,250 Sales Revenue Utilities Expense Wages Expense Depreciation Expense Supplies Expense Insurance Expense Miscellaneous Expense 1,500 3,300 4,500 1,400 Required: 1. Prepare the closing journal entries on December 31, 2019 for the company 2. Prepare in good form the income statement of the company for the year ended December 31, 2019, 9 MB numaining Time: 2 hours, 57 minutes, 09 seconds. Question Completion Status: Selected account balances are presented in the following adjusted balance of Jojo Company at December 31, 2019. Debit Credit Cash $9,000 Accounts Receivable 40,000 8,000 Supplies Prepaid Insurance 9,000 182,000 Equipment 59,700 7,000 Accumulated Depreciation Accounts Payable Unearned revenue Taxes payable Common stock 3.250 1.000 69,000 Retained Earnings 27.000 Dividends 8,000 Service Revenue 80 000 Sales Revenue 120.000 9 MB Hakerlake.jsp?course assessment_id= 206662_18course_id=_335324_1&content_id3127893_1&question_num_1.xOtoggl. Remaining Time: 2 hours, 56 minutes, 55 seconds. Question Completion Status: UTES Service Revenue 80,000 120,000 4,000 47,250 Sales Revenue Utilities Expense Wages Expense Depreciation Expense Supplies Expense Insurance Expense Miscellaneous Expense 1,500 3,300 4,500 1,400 Required: 1. Prepare the closing journal entries on December 31, 2019 for the company 2. Prepare in good form the income statement of the company for the year ended December 31, 2019, 9 MB