on 1 December, Bob Wonder began an auto repair shop, Wonder's quality Automotive. The following transactions occured during December: Dec 1. Wonder contributed $55000 cash to the business in exchange for capital. 1. Purchased $9000 of equipment paying cash 1. Paid $1000 for a four-month insurance policy starting on 1 December 10. Purchased office supplies on credit, $2900 19. Borrowed $30000 from the bank for business use. Wonder signed a loan payable to the bank in the name of the business. The loan is due in five years. 22. Paid $1200 for advertising expenses 28. The business received a $230 bill for electricity and gas to be paid in January. 31. Revenues earned during the month included $20500 cash and $3300 on credit. 31. Paid Employees' salaries $3100 and building rent $1000. Adjustment Data: a. Office supplies used during the month, $900 b. Depreciation for the month, $150 c. One month of insurance has expired. d. Accrued interest expense, $75. Required: After journalising and posting the closing entries, the balance on the revenue account is