Required information [The following information applies to the questions displayed below.) Assume for each of the following independent cases that the annual accounting period ends on December 31. Revenues for the year were $153,000. Expenses for the year were $179,000. Case A: Assume that the company is a sole proprietorship owned by Proprietor A. Prior to the closing entries, the capital account reflects a balance of $64,000 and the drawing account shows a balance of $9,000. Case B: Assume that the company is a partnership owned by Partner A and Partner B. Prior to the closing entries, the owners' equity accounts reflect the following balances: A, Capital, $58,000; B, Capital, $58,000; A, Drawings, $14,000; and B, Drawings, $16,000. Profits and losses are divided equally. Case C: Assume that the company is a corporation. Required: 1. Provide all the closing entries required at December 31 for each of the separate cases. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 5 Record closing entry to transfer revenue and expenses. Note: Enter debits before credits. General Journal Debit Credit Transaction Case A: Record entry Clear entry View general journal View transaction list Journal entry worksheet