The following information relates to TipTopTea for the year ended 30 June 2020. Accounts payable 82,500 Accounts receivable 7,500 Accumulated depreciation - Equipment 11,800 Bank Loan (due in 2025) 38,000 Capital 105,400 Cash at bank 186,400 8,600 4,000 7,500 180,000 Depreciation expense-Equipment Drawings Electricity expense Equipment Prepaid rent Rent expense Service revenue Supplies Unearned revenue 16,500 32,000 282,600 3,900 19,200 Wages expense 135,400 Wages payable 42,500 Required; Prepare the closing entries for TipTopTea as at 30 June 2020. Narrations are required