The ledger of Cranston Corporation has the following account balances at the company's first year end of October 31, 2018.

Accounts payable	$ 3,210		Prepaid rent	$ 3,070
Accounts receivable	4,810		Rent expense	730
Accumulated depreciation	5,250		Salaries expense	7,060
Bank loan payable	7,300		Salaries payable	1,310
Cash	17,160		Service revenue	13,730
Common shares	22,300		Supplies	2,400
Depreciation expense	1,750		Supplies expense	630
Dividends declared	420		Unearned revenue	3,020
Equipment	17,500		Utilities expense	500
Interest expense	300
Interest payable	210

Prepare the closing entries at October 31, 2018.

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