preoare the entry required to close the revenue and expense accounts at december 31.

Beachside Realty rents condominiums and furnishings. Below is the adjusted trial balance at December 31. Beachside Realty ADJUSTED TRIAL BALANCE December 31, 20Y2 DEBIT CREDIT ACCOUNT TITLE 1 Cash 1,500.00 2 Accounts Receivable 2,000.00 3 Interest Receivable 100.00 4 Prepaid Insurance 1,600,00 5 Notes Receivable (long-term) 2,800,00 6 Equipment 15,000.00 3,000.00 2,400.00 7 Accumulated Depreciation 8 Accounts Payable 9 Accrued Expenses Payable 10 Income Taxes Payable 11 Unearned Rent Fees 3,920.00 2.700.00 500.00 12 Common Stock 5,000,00 0.10000 Beachside Realty ADJUSTED TRIAL BALANCE December 31, 20Y2 ACCOUNT TITLE DEBIT CREDIT 1 Cash 1,500.00 2 Accounts Receivable 2,000.00 3 Interest Receivable 100.00 4 Prepaid Insurance 1,600.00 5 Notes Receivable (long-term) 2,800.00 15,000.00 3,000.00 6 Equipment 7 Accumulated Depreciation 8 Accounts Payable 9 Accrued Expenses Payable 10 Income Taxes Payable 11 Unearned Rent Fees 2,400.00 3,920.00 2,700.00 500.00 12 Common Stock 13 Retained Earnings 5,000.00 2,700.00 14 Dividends 2,000.00 15 Rent Fees Earned 37,000.00 an 11 Unearned Rent Fees 500.00 12 Common Stock 5,000.00 15 Retained Earnings 14 Dividends 2.700.00 2,000.00 15 Rent Fees Eamed 37,000.00 16 Furniture Rental Revenue 1.200.00 1 Interest Revenue 100.00 19,000.00 1,800.00 16 Wages Expense 19 Depreciation Expense 20 Utilities Expense 11 Insurance Expense 22 Maintenance Expense 23 Income Tax Expense 320,00 700.00 9,000.00 2,700.00 24 Totals 58,520.00 58,520.00 Required: Prepare the entry required to close the revenue and expense accounts at the end of the period. Refer to the Chart of Accounts for exact wording of account titles Prepare the entry required to close the revenue and expense accounts at December 31. Refer to the Chart of Accounts for exact wording of account titles PAGE ACCOUNTING EQUATION JOURNAL DERT CREDIT ASSETS LIABILITIES EQUITY POST RET DATE DESCRIPTION 1 2 1 4 5 B 7 10