The adjusted trial balance for Lloyd Construction as of December 31, 2020, follows:

No.	Account		Debit			Credit
101	Cash	$	15,600
104	Short-term investments		20,600
126	Supplies		7,200
149	Notes receivable		40,000
167	Equipment		74,000
168	Accumulated depreciation, equipment				$	36,000
173	Building		256,000
174	Accumulated depreciation, building					139,000
183	Land		84,000
193	Franchise		29,000
201	Accounts payable					16,600
203	Interest payable					120
233	Unearned professional revenue					26,600
251	Long-term notes payable					128,000
301	Amar Lloyd, capital					88,370
302	Amar Lloyd, withdrawals		2,600
401	Professional revenue					202,480
406	Rent revenue					24,000
606	Depreciation expense, building		19,600
612	Depreciation expense, equipment		7,600
623	Wages expense		63,600
633	Interest expense		570
637	Insurance expense		17,600
652	Supplies expense		12,400
688	Telephone expense		4,000
690	Utilities expense		6,800
	Totals	$	661,170		$	661,170

An analysis of other information reveals that Lloyd Construction is required to make a $41,000 payment on the long-term notes payable during 2021. The notes receivable are due May 1, 2022. Also, Amar Lloyd invested $71,000 cash early in 2020. Required: Prepare the closing entries made at the end of the year.