Presented below is a partial list of accounts (in alphabetical order) for H Mart at 12/31/20 after adjusting entries have been recorded. All accounts have normal balances.

	Balance
Accounts receivable	807,000
Accumulated depreciation	422,000
Bonds Payable	800,000
Cash	105,000
Common Stock	300,000
Cost of Goods Sold	2,974,000
Depreciation expense	15,000
Dividends	57,000
Dividends Payable	22,000
Inventory	226,000
Prepaid Insurance Expense	45,000
Retained Earnings	535,500
Service Revenues	2,128,000
Short Term Investments	71,000
Unearned Service Revenue	82,000
Utilities Expenses	522,500

Prepare the necessary closing entries at 12/31 based on the accounts shown above.