On December 31, 2020, account balances after adjustments for Blue Company are as follows: Accounts Account Balances Cash $21,000 3,000 Supplies Furniture Accumulated Depreciation-Furniture Notes Payable Accounts Payable Blue, Capital Blue, Drawings Service Revenue Rent Expense Salaries Expense Utilities Expense Advertising Expense Depreciation Expense 37.500 9,000 12,750 3.750 15,000 6,000 85,500 19,500 18.000 3,900 14,100 3,000 Required: Prepare the closing entries for Blue Company on December 31, 2020 Paragraph 1