The following unadjusted trial balance is for ACE CONSTRUCTION CO. as of the end of its 2015 fiscal year. The June 30, 2014, credit balance of the owners capital account was $54,300, and the owner invested $28,000 cash in the company during the 2015 fiscal year.

ACE CONSTRUCTION CO. Unadjusted Trial Balance June 30, 2015
No.	Account Title	Debit		Credit
101	Cash	$	17,500
126	Supplies		7,000
128	Prepaid insurance		5,000
167	Equipment		156,030
168	Accumulated depreciationEquipment				$ 27,000
201	Accounts payable				6,000
203	Interest payable				0
208	Rent payable				0
210	Wages payable				0
213	Property taxes payable				0
251	Long-term notes payable				27,000
301	V. Ace, Capital				82,300
302	V. Ace, Withdrawals		28,000
401	Construction fees earned				147,000
612	Depreciation expenseEquipment		0
623	Wages expense		49,000
633	Interest expense		2,970
637	Insurance expense		0
640	Rent expense		12,000
652	Supplies expense		0
683	Property taxes expense		5,000
684	Repairs expense		2,100
690	Utilities expense		4,700
	Totals	$	289,300	$	289,300

Adjustments:

a.	The supplies available at the end of fiscal year 2015 had a cost of $2,520.
b.	The cost of expired insurance for the fiscal year is $3,150.
c.	Annual depreciation on equipment is $8,100.
d.	The June utilities expense of $570 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $570 amount owed needs to be recorded.
e.	The companys employees have earned $1,200 of accrued wages at fiscal year-end.
f.	The rent expense incurred and not yet paid or recorded at fiscal year-end is $300.
g.	Additional property taxes of $800 have been assessed for this fiscal year but have not been paid or recorded in the accounts.
h.	The long-term note payable bears interest at 12% per year. The unadjusted Interest Expense account equals the amount paid for the first 11 months of the 2015 fiscal year. The $270 accrued interest for June has not yet been paid or recorded. (The company is required to make a $5,000 payment toward the note payable during the 2016 fiscal year.) Prepare the closing entries.