Prior to adjustment at August 31, 2010, Salary Expense has a debit balance of $298,500. Salaries owed but not paid as of the same date total $2,700. Prepare the entries to record the following: Hide 1. Accrued salaries as of August 31. Correct 2 of Item 1 Correct 3 of Item 1 Correct 4 of Item 1 Correct 5 of Item 1 Hide FeedbackShow All Feedback Additional Feedback Post Submission Feedback Solution Hide 2. Closing of Salary Expense as of August 31. Correct 2 of Item 2 Correct 3 of Item 2 Correct 4 of Item 2 Correct 5 of Item 2 Bob Evans owns a business, Beachside Realty, that rents condominiums and furnishings. Below is the adjusted trial balance at December 31, 2010. Hide Prepare the entry required to close the revenue accounts at the end of the period. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0". Dec. 31 Accounts receivable Bob Evans, drawing Cash Income summary Rent fees earned Correct 2 Correct 3 Correct 4 Income summary Bob Evans, capital Unearned rent fees Notes receivable Furniture rental revenue Correct 5 Correct 6 Correct 7 Cash Interest receivable Accumulated depreciation Interest revenue Income Summary Correct 8 Correct 9 Correct 10 Cash Rent fees earned Bob Evans, drawing Bob Evans, capital Income Summary Correct 11 Correct 12 Correct 13