Prepare the required closing journal entries for the year ended December 31, using the items from the Income Statement columns of a work sheet that follow and assuming that withdrawals by the owner, A. Riley, were$7,000. Debit Credit 35,860 Account Name Repair Revenue Wages Expense Rent Expense Supplies Expense Insurance Expense Depreciation Expense-Repair Equipment 13,260 2,800 6,390 1,370 3,020 26,840 9,020 35,860 35,860 Net Income 35,860