Question 3: A) Companies have two types of accounts; temporary and permanent account. At the end of any accounting period, some accounts are closed and the amounts are transferred to other accounts. You are required to; Name all those accounts which are closed and why? Also nominate those accounts where the amounts will be transferred? (4 Marks, Word Limit 100 -150) B) Given the adjusted trial balance below, you are required to pass closing entries along with proper explanation of the entry. Java Incoporations Adjusted Trial Balance January 31, 2019 Accounts Debit Credit Cash 24800 Account receivables 1200 Interest receivables 140 Supplies 400 Equipment 3500 Accumulated Depreciation Equipment 75 Account Payable 500 Salaries Payable 1500 Unearned Revenue 3400 Common Stock 20000 Dividends 100 Interest revenue 140 Service revenue 10100 Supplies expense 100 Depreciation expense: equipment 75 Salaries expense 5100 Utility expense 300 Total 35715 35715