Question 8 of 13 - / 1 View Poncies Current Attempt in Progress Presented below is an adjusted trial balance for Shawn Company at December 31, 2022 Cash Accounts receivable Prepaid insurance Equipment Owner's Drawings Advertising expense Depreciation expense Insurance expense Salaries and wages expense Rent expense Debit $7,700 20.000 15.000 35.000 1.500 1.400 Accounts payable Notes payable Accumulated depreciation-Equipment Service revenue Owner's capital Credit $10.000 25,000 14,000 29.000 24,000 7.000 1.600 12.000 800 $102,000 $102,000 Prepare closing entries for December 31, 2022. (Credit account titles are automatically indented when amount is entered Do not indent manually) No. Account Tities and Explanation Debit Credit Dec. 31 C G Search or type URL ORD 2 3 $ 4 5 6 & 7 " 9 8 0 W E R T Y U o S D F G H Z C V B B N M ge 9 Question 8 of 13 III Prepare closing entries for December 31, 2022 (Credit account titles are automatically indented when amount is entered. Do not Indent manually) No. Account Titles and Explanation Debit Credit Dec 31 (To close revenue account.) 31 (Todose expense accounts) 31 (To close net income to capital) 31 To close drawings to capital) c G Search or type URL $ 4 8 7 2 3 5 6 8 9 W R E T Y U 1 0 S D F G J K L I > X C V B N M 1 gh command option Question 8 of 13 -/1 (To close net income to capital) 31 (To cose drawings to capital) e Textbook and Media List of Accounts Determine the balance in the Owner's Capital account after the entries have been posted. Balance in owner's capital s e Textbook and Media List of Accounts Attempts: 0 of used Sun An Save for Later o G Search or type URL $ 4 & 7 2 3 5 6 0 8 9 W E R Y o T U D S F G H J KL X C V 00 N. M