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1. The ledger of Quintana Company contains the following balances: Owner's Capital $40,000, Owner's Drawings $3,000, Service Revenue $65,000, Salaries and Wages Expense $39,000, and Maintenance and Repairs Expense $9,000. Prepare the closing entries at December 31. 2. At Shields Company, the following errors were discovered after the transactions had been journalized and posted. Prepare the correcting entries. Prepare correcting entries. a. A cash sale to a customer for $780 was recorded as a debit to Cash $780 and a credit to Accounts Receivable $780. b. The purchase of equipment on account for $1,730 was recorded as a debit to Equipment $1,370 and a credit to Accounts Payable $1,370. 3. The balance sheet debit column of the worksheet for Miguel Company includes the following accounts: Accounts Receivable $25,000, Prepaid Insurance $7,000, Cash $8,000, Supplies $11,000, and Stock Investments (short-term) $14,000. Prepare the current assets section of the balance sheet, listing the accounts in proper sequence