Sandhill Company Adjusted Trial Balance July 31, 2020 No. Account Titles Debit Credit 101 Cash $8,000 112 Accounts Receivable 9,100 157 Equipment 15,800 158 Accumulated Depreciation-Equip. $7,300 201 Accounts Payable 4,700 208 Unearned Rent Revenue 2,400 301 Owner's Capital 42,800 306 Owner's Drawings 15,900 400 Service Revenue 64,000 429 Rent Revenue 6,900 711 Depreciation Expense 8,900 726 Salaries and Wages Expense 55,800 732 Utilities Expense 14,600 $128,100 $128,100 (L) Your answer has been saved and sent for grading. See Gradebook for score details. Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do no Date Account Titles and Explanation July 31 Service Revenue Rent Revenue Income Summary (To close revenue accounts) July 31 Income Summary Depreciation Expense Salaries and Wages Expense Utilities Expense (To dose expense accounts) July 31 Owner's Capital Income Summary (To close net income/(loss)) July 31 Owner's Capital Income Summary Debit Credit 64,000 6,900 70,900 79,300 8,900 55,800 14,600 8,400 8,400 15,900 15,900 (To dose drawings) Click if you would like to Show Work for this question; Open Show Work (b) Post to Owner's Capital and Income Summary accounts. (Post entries in the order of journal entries prese parentheses e.g. (45).) Owner's Capital No. 301 Date Explanation Debit Credit Balance July 31 July 31 July 31 Income Summary No. 350 Date Explanation Debit Credit Balance July 31 July 31 July 31 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS