Please correct the closing entry below.

Adjusted Trial Balance 31, 20x Debit Credit 50,000 11,000 15,000 Accounts Receiva Prepaid Insurance 1,500 14,000 Equipment Accumulated Dep Accounts Payable D. Desmond, Capital 8,000 14,000 61,700 Desmond, Withdrawals Sales Revenue Sales Discounts Salaries Expense Telephone Expense Advertising Expense 23,800 13,000 107,500. 107,500 Totals Prepare closing entries in general journal below. Date Account Debit redit 3oco ecere e 2