Problem 4-6A Closing entries LO2, 3 The adjusted trial balance for Lloyd Construction as of December 31, 2020, follows: No. 101 Cash 104 Current investments. 126 Supplies. 149 167 Equipment. 168 Accumulated depreciation, equipment. 173 Building. 174 Accumulated depreciation, building. Notes receivable. 183 Land. 193 Franchise.. 201 203 233 251 301 302 401 Account Accounts payable. Interest payable Unearned professional revenue. Long-term notes payable. Amar Lloyd, capital.. Amar Lloyd, withdrawals. Professional revenue. 406 606 612 623 633 637 Insurance expense. 652 Supplies expense. 688 690 Telephone expense... Utilities expense. Totals Rent revenue. Depreciation expense, building. Depreciation expense, equipment Wages expense. Interest expense Debit $ 15,300 20,300 6,900 38,500 71,000 253,000 82,500 27,500 2,300 19,300 7,300 63,300 540 17,300 12,100 3,700 6,500 $647,340 Credit $ 34,500 137,500 16,300 120 26,300 125,000 85,640 199,480 22,500 $647,340 An analysis of other information reveals that Lloyd Construction is required to make a $41,500 payment on the long-term notes payable during 2021. The notes receivable are due May 1, 2022. Also, Amar Lloyd invested $68,000 cash early in 2020. Required Prepare the closing entries made at the end of the year. 291