The adjusted trial balance for Lloyd Construction as of December 31, 2020, follows: No. 101 104 126 149 167 168 173 174 183 193 201 203 233 251 301 302 401 406 606 612 623 633 637 652 688 690 Account Cash Short-term investments Supplies Notes receivable Equipment Accumulated depreciation, equipment Building Accumulated depreciation, building Land Franchise Accounts payable Interest payable Unearned professional revenue Long-term notes payable Amar Lloyd, capital Amar Lloyd, withdrawals Professional revenue Rent revenue Depreciation expense, building Depreciation expense, equipment Wages expense Interest expense Insurance expense Supplies expense Telephone expense utilities expense Totals Debit Credit $ 16,000 21,000 7,600 42,000 78,000 $ 38,000 260,000 141,000 86,000 31,000 17,000 130 27,000 132,000 92,000 3,000 206,480 26,000 20,000 8, oee 64,000 610 18,000 12,800 4,400 7200 $679,610 $679,610 An analysis of other information reveals that Lloyd Construction is required to make a $45,000 payment on the long-term notes payable during 2021. The notes receivable are due May 1, 2022. Also, Amar Lloyd invested $75,000 cash early in 2020. Required: Prepare the closing entries made at the end of the year. View transaction list Journal entry worksheet