Q1. Prepare closing entries for KC Antiques at December 31. Cash Accounts receivable Office supplies Prepaid insurance Office equipment Accum, depreciation-Office equip Adjusted Trial Balance $ 34,000 22,000 2,000 2,960 84,000 $ 20,000 Accounts payable Interest payable Salaries payable 10,000 1,000 7,000 Unearned consulting fees 15,000 Long-term notes payable 52,000 J. Logan, Capital 40,000 J. Logan, Withdrawals 5,000 Consulting fees earned 134,240 Depreciation expense-Office equip. 6,000 Salaries expense 74,000 Interest expense 2,200 Insurance expense 5,580 Rent expense 14,500 Office supplies expense 14,000 Advertising expense 13,000 Totals $279,240 $279,240