S. Prepare the necessary closing entries based on the following selected accounts. Accumulated Depreciation $10,000 Utilities Expense 15,000 Blue, Capital 20,000 Blue, Drawing 10,000 Salaries Expense 13,000 Service Revenue 40.000 DEBIT CREDIT Account Names 30. Morales Company sells S320.000 of its receivables to Instant Factors, Inc. Instant factors assesses a finance charge of 3% of the amount of receivables sold. Instructions: Prepare a journal entry to record the sale of the receivables on Morales Company's books. Account Name Debit Credit 57. Based on the following account balances, compute the requested amounts below. Accounts Receivable $16,000 Accumulated Depreciation Equipment 27,000 Cash 24,000 Equipment 93,000 Prepaid Rent 7,000 Supplies 15,000 Part A: Compute the current assets amount = Part B: Compute the property, plant, & equipment amount Page 9