Prepare the closing entry for the following company:

8a) Prepare the closing entry for the following company (5 marks) Trial Balance for Dance Lab Movement Theatre as at June 30, 2019 Account Title Debits Credits 10,120 800 1,640 1,750 10,000 1,065 Bank Accounts Receiv. Prepaid Expenses Accounts Payable Deferred Revenue Retained Earnings Ticket Sales Concession Sales Studio Rentals Fundraising Income Government Grants Artistic Fees & Salaries Administrative Fees & Salaries Artistic, Production & Technical Expense Administrative Expense Total 43,150 9,865 12,060 33,700 110,000 101,200 49,650 39,020 17,030 220,525 220,525 9) Define the following (8 marks): a) Journal Entry