Question 10 [15 points] Following is the adjusted trial balance, with accounts listed in alphabetical order for Gulf Corp. at April 30, 2014. Use this information to prepare the closing entries. Use the numbers below as the description for the corresponding closing entry. 1. Close all temporary credit balance accounts to the income summary account. 2. Close all temporary debit balance accounts to the income summary account 3. Close the income summary (net income) to retained earnings 4. Close the income summary (net loss) to retained earnings. 5. Close dividends to retained earnings Enter the dates in the format dd/mmm (ie. 15/Jan). Gulf Corp. General Journal Page GJ8 Adjusted Trial Balance Date Account/Explanation F Debit Credit April 30, 2014 Debit Credit + - Accounts payable. 6,720 Accounts receivable 13,830 Accumulated depreciation, building 1,990 + - Building 23,420 Cash 5,710 Commissions earned 7,420 + = Consulting revenue earned. 3,940 Depreciation expense, building. 920 Dividends 1,100 + = Interest earned 3,140 Rent earned 4,520 Retained earnings 11,920 Share capital 5,330 Totals 44.980 44,980 14 . 51.20