The following trial balance was taken from the books of Fisk Corporation on December 31, 2014.

Account Debit Credit

Cash $ 9,000

Accounts Receivable 40,000

Notes Receivable 10,000

Interest Revenue 500

Allowance for Doubtful Accounts $ 1,800

Inventory 44,000

Insurance expense 2,000

Prepaid Insurance 4,800

Equipment 110,000

Accumulated Depreciation--Equip. 17,000

Accounts Payable 10,800

Common Stock 44,000

Retained Earnings 55,000

Sales Revenue 280,000

Cost of Goods Sold 126,000

Salaries and Wages Expense 50,500

Rent Expense 12,800

Totals $409,100 $409,100

Prepare Closing Entries: