Novak Company ended its fiscal year on July 31, 2022. The company's adjusted trial balance as of the end of its fiscal year is sh- follows. Novak Company Adjusted Trial Balance July 31, 2022 No. Account Titles Debit Credit 101 Cash $8,250 112 Accounts Receivable 8,500 157 Equipment 15,900 158 Accumulated Depreciation-Equip. $7,700 201 Accounts Payable 4,050 208 Unearned Rent Revenue 1,500 311 Common Stock 18,800 320 Retained Earnings 26,000 332 Dividends 14,500 400 Service Revenue 63,500 101 Cash $8,250 112 Accounts Receivable 8,500 157 Equipment 15,900 158 Accumulated Depreciation-Equip. $7,700 201 Accounts Payable 4,050 208 Unearned Rent Revenue 1,500 311 Common Stock 18,800 320 Retained Earnings 26,000 332 Dividends 14,500 400 Service Revenue 63,500 429 Rent Revenue 6,500 711 Depreciation Expense 9,500 726 Salaries and Wages Expense 55,900 732 Utilities Expense 15,500 $128,050 $128,050 Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 31 July 31 (To close revenue accounts) (To close expense accounts) July 31 July 31 (To close expense accounts) (To close net income/(loss)) (To close dividends)