The tems that follow appeared n the Income Statement columns of the work sheet prepared for The Sweet Shoppe at year end. Also,the owner's wthdrawal account was debted for $15,000 durng the year ended December 31.Prepare closng journal entres for the busness.

Income Statement

Revenue from servces $107,000

Offce salares expense $25,000

Rent expense 12,500

Insurance expense 1,900

Offce supples expense 1,000

Amortzaton expense,offce 3,400

equpment

$43,800 $107,000

Net Income 63,200

$107,000 $107,000

Include the followng n each journal entry

Date

Account Ttle and explanatons

Debt

Credt