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 $144,000. Expenses for the year were $164,000. Case A: Assume that Rise Up Company is a sole proprietorship owned by Mrs. Rise. Prior to the closing entries, the capital account reflects a balance of $52,000 and the drawing account shows a balance of $9,000. Case B: Assume that Rise Up Company is a partnership owned by Mrs. Rise and Mr. Up. Prior to the closing entries, the owners' equity accounts reflect the following balances: Rise, Capital, $43,000; Up. Capital, $43,000; Rise, Drawings. $5,000; and Up. Drawings, $7,000. Profits and losses are divided equally. Case C: Assume that Rise Up Company is a corporation. Required: 1. Provide all the closing entries required at December 31 for each of the separate cases. Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account field. View transaction list View journal entry worksheet No Transaction General Journal 1 Case A: No Transaction Recorded Debit Credit