Question $3(15$ Marks$)$

Following is the adjusted trial balance, with accounts listed in alphabetical order for Jenstar Technologies at May $31,2023.$ Use this information to prepare the closing entries. Close all temporary credit balance accounts to the income summary account.

Close all temporary debit balance accounts to the income summary account.

Close the income summary $($net income$)$ to capital.

Close the income summary $($net loss$)$ to capital.

Close withdrawals to capital.

$\backslash$table$[[\backslash$table$[[$JenStar$],[$Adjusted Trial Balance$],[$March $31,2023]],,],[$Accounts receivable,,$\backslash$table$[[$Debit$],[11,180]],$Credit$],[$Accumulated depreciation, building,,$5,040],[$Advertising expense...,$3,850,],[$Building$.........................,41,280,],[$Capital$....,,15,840],[$Cash$....,6,820,],[$Commissions earned...,,$12,610],[$Consulting revenue earned.,,$12,450],[$Depreciation expense, building.,$1,760,],[$Interest expense....,$2,430,],[$Long$-$term notes payable.........,,$9,530],[$Rent earned....,,$11,880],[$Sales$.,,3,470],[$Withdrawals$,3,500,],[$Totals$,70,820,\frac{0}{b}ar(70,820)$