Sheridan company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is as follows.

Debit. Credit cash. $8,100 Account Receivable. 8,900 Equipment. 15,800 Accumulated Depreciation - Equip. $7,200 Account Payable. 4,800 Unearned Rent Revenue. 1,900 Owner's Capital. 44,900 Owner's Drawings. 16,400 Service Revenue. 64,900 Rent Revenue. 6,400 Depreciation expenses. 9,200 Salaries and wages exp. 56,600 Utilities Expenses. 15,100 $130,100 $130,100

closing entries

Current Attempt in Progress Sheridan Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is as follows. Sheridan Company Adjusted Trial Balance July 31, 2020 No. Account Titles Debit Credit 101 Cash $8,100 8,900 112 Accounts Receivable 157 Equipment 15.800 $7.200 158 201 Accumulated Depreciation-Equip. Accounts Payable 4,800 208 Unearned Rent Revenue 1.900 Owner's Capital 44.900 306 Owner's Drawings 16.400 400 Service Revenue 64.900 429 Rent Revenue 6.400 711 Depreciation Expense 9.200 Salaries and Wages Expense 56.600 726 732 Utilities Expense 15.100 $130 100 $130 100 Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit July 31 (To close revenue accounts) July 31 (To close expense accounts) July 31 (To close net income / Closs))