The following is the adjusted trial balance of Sierra Company. Sierra Company Adjusted Trial Balance Account Title Cash December 31 Prepaid insurance Notes receivable (due in 5 years) Buildings Accumulated depreciation-Buildings Accounts payable Notes payable (due in 3 years) Common stock Retained earnings Dividends Consulting revenue Wages expense Depreciation expense-Buildings Insurance expense Totals Prepare its December 31 closing entries. Debit Credit $ 6,500 650 5,500 23,000 $ 13,500 4,000 4,500 10,500 3,000 1,300 11,000 5,000 2,600 1,950 $ 46,500 $ 46,500