Question 4 of 4 Cash 54,000 Accounts receivable 137,000 Inventory 127,000 Prepaid expenses 2,000 362,000 140,000 36,000 Equipment Accumulated depreciation, equipment Accounts payable Unearned revenue Wages payable Common shares Retained earnings 5.000 17,000 103,000 88,000 Dividends declared 19.000 Sales revenue 948,000 16,000 580,000 Interest revenue Cost of goods sold Depreciation expense Wages expense 10,000 44,000 Utilities expense 8,000 10,000 Insurance expense 11 Prepare the necessary closing entries for Zo Developments at January 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 31 (To close accounts with a credit balance) Jan. 31 (To close accounts with a debit balance) Jan. 31 (To close accounts with a credit balance) Jan. 31 (To close accounts with a debit balance) Jan. 31 (To close income summary account) Jan. 31 (To close dividend account)