Question At year-end, Olivia's Nursery, Inc. had account balances as follows: Sales Revenue of $200,000, Wage Expense of $72.000. Administrative Expense of $9,000, Unity Expense of 8.000 and Rent Expense of $11,000. Prepare the necessary year-end closing entries. Omit explanations (Record debits first, then credits Exclude explanations from any journalis) (1) Start by closing revenues Account December 31