The adjusted trial balance shown below is for Rich Company at the end of its fiscal year: Instructions: Prepare the closing entries at Decemer 31st RICH COMPANY Trial Balance 31-Dec-20 DATE ACCOUNT TITLE DEBIT CREDIT Credit Debit $12.900 9,400 700 2,500 16,000 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense Insurance Expense Depreciation Expense TOTALS $4,800 5,800 1,100 600 15,000 20,600 8,600 22,300 17,800 14,700 3,500 15,600 1,800 2,300 $88,000 $88,000