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Prepare closing entries for the following: Cash.......................$4,500 Accounts Receivable.... 7,500 Service Revenue......... 1,500 Salaries Expense......... 700 Rent Expense............ 250 Utilities Expense........ 265 Supplies Expense........ 125

Prepare closing entries for the following: Cash.......................$4,500 Accounts Receivable.... 7,500 Service Revenue......... 1,500 Salaries Expense......... 700 Rent Expense............ 250 Utilities Expense........ 265 Supplies Expense........ 125 Owners Drawing......... 100

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