PREPARE THE REVERSING ENTRIES FOR JANUARY 1ST

Exercise 4-19 a-e (Part Level Submission) On December 31, the adjusted trial balance of Swifty Employment Agency shows the following selected data. Accounts Receivable Interest Expense $25,500 Service Revenue 7,500 Interest Payable $92,200 4,000 Analysis shows that adjusting entries were made to (1) accrue $5,500 of service revenue and (2) accrue $4,000 interest (a) Prepare the closing entries for the temporary accounts shown above at December 31. (Credit account titles are auton amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanatiorn Debit Credit (To close the revenue account.) (To close the expense account.) Date Account Titles and Explanation Debit Credit To close the revenue account.) To close the expense account.)