QUESTION 7 14 MARKS Laura's Laundry Service prepares statements once a year. Presented below are the year-end balances at October 31, 2022 of Laura's Laundry Service. All accounts have normal balances. Accounts receivable Accounts payable Accumulated depreciation, laundry equipment Advertising expense Cash Depreciation expense, laundry equipment Insurance expense Laundry equipment Laundry service revenue Notes payable Laura Bunch, capital Laura Bunch, withdrawals Prepaid insurance Salaries payable Salaries expense $ 12,000 25,000 30,000 4,000 42,000 12,000 3,000 125,000 200,000 65,000 17,000 18.000 1,500 4,000 97,000 1,500 9,000 7,000 500 Q Supplies Supplies expense Repair expense Unearned laundry service revenue Itilities aynenca balances at October 31, 2022 of Laura's Laundry Service. All accounts have normal balances. Accounts receivable Accounts payable Accumulated depreciation, laundry equipment Advertising expense Cash Depreciation expense, laundry equipment Insurance expense Laundry equipment Laundry service revenue Notes payable Laura Bunch, capital Laura Bunch, withdrawals Prepaid insurance Salaries payable Salaries expense Supplies Supplies expense Repair expense Unearned laundry service revenue Utilities expense $ 12,000 25,000 30,000 4,000 42,000 12,000 3,000 125,000 200,000 65,000 17,000 18,000 1,500 4,000 97,000 1,500 9,000 7,000 500 9,500 Prepare the necessary closing journal entries at October 31. 14 Marks