Record the adjusting and closing entries.

 

Account Titles Cash Accounts Receivable Tools Equipment Accounts Payable Loans Payable Joanna Crystelle, Capital Joanna Crystelle, Drawings Service Revenues Rent Revenue Supplies Expense Rent Expense Taxes and Licenses Wages Expense Total P Debit Trial Balance 27,100.00 16,000.00 12,000.00 65,500.00 12,500.00 Credit 8,500.00 22,500.00 100,000.00 31,750.00 800.00 11,500.00 14,000.00 1,950.00 3,000.00 163,550.00 P 163,550.00