Question 1 Blossom Company shows the following balances in selected accounts of its adjusted trial balance Supplies Supplies Expense Accounts Receivable Owner's Drawings Owner's Capital $30,000 5,000 11,000 20,000 70,000 Service Revenue Salaries and Wages Expense Utilities Expense Rent Expense $105,000 35,000 7,000 16,000 Journalize the closing entries at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent man Date Account Titles and Explanation Debit Credit Dec. 31 Service Revenue 105,000 Income Summary 105,000 (To close revenue account) Dec. 31 Income Summary 6,300 Supplies Expense 5,000 Salaries and Wages Expense 35,000 Utilities Expense 7,000 Rent Expense 16,000 (To close expense accounts) Dec. 31 Income Summary 38,000 38,000 close nimeline CALCULATOR STANDARD VIEW PRINTER VERSION Dec. 31 Service Revenue 105,000 Income Summary 105,000 (To close revenue account) Dec. 31 Income Summary 6,300 Supplies Expense 5,000 Salaries and Wages Expense 35,000 Utilities Expense 7,000 Rent Expense (To close expense accounts) 16,000 Dec. 31 Income Summary 38,000 38,000 (To close net income / (loss)) Dec. 31 (To close drawings) SHOW LIST OF ACCOUNTS Question Attempts: 0 of 2 used SAVE FOR LATER SUBM