Question 5 (8 points) Question 4 Below is the adjusted Trial Balance of Queeny Quilty's Quilting and Sewing Shop (adjusting entries have already been completed). Prepare closing entries on 30 June 2020 in the General Journal table below. Also prepare the entry to close the Drawings account and to net off the GST accounts. You are not required to complete narrations or posting references. (8 marks) Q Quilty's Quilting and Sewing Shop Trial Balance as at 30 June 2020 DR CR Cash at Bank 13.800 Accounts Receivable 5.300 Inventory 146,470 Prepaid Insurance 500 Shop Fixtures and Fittings 17,000 Accumulated Depreciation - Shop Fixtures and Fittings 8.500 Accounts Payable 9.200 Accrued Expense Payable 1,520 Unearned Revenue 700 GST Collected 4.540 GST Paid 1,520 Q Quilty, Capital 142.990 Q Quilty, Drawings 27.500 Sales Revenue 172.000 Interest Revenue 350 Cost of Goods Sold 99.350 Advertising Expense 1.100 Depreciation Expense 4,500 CR Q Quilty's Quilting and Sewing Shop Trial Balance as at 30 June 2020 DR Cash at Bank 13,800 Accounts Receivable 5.300 Inventory 146.470 Prepaid Insurance 500 Shop Fixtures and Fittings 17,000 Accumulated Depreciation - Shop Fixtures and Fittings Accounts Payable Accrued Expense Payable Unearned Revenue GST Collected GST Paid 1.520 Q Quilty, Capital Q Quilty, Drawings 27,500 Sales Revenue Interest Revenue Cost of Goods Sold 99.350 Advertising Expense 1.100 Depreciation Expense 4,500 Insurance Expense 1,310 Rent Expense 9,600 Salaries and Wages Expense 11,850 339,800 8,500 9,200 1.520 700 4.540 142.990 172,000 350 339,800 0 ol Format BI U General Journal Date Details Ref Debit Credit