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Pharoah Company Adjusted Trial Balance July 31, 2020 Account Titles Debit Credit $10,100 8,900 15,700 No. 101 112 157 158 201 208 301 306 400 429 Cash Accounts Receivable Equipment Accumulated Depreciation-Equip. Accounts Payable Unearned Rent Revenue Owner's Capital Owner's Drawings Service Revenue Rent Revenue Depreciation Expense Salaries and Wages Expense Utilities Expense $7,300 4,100 2,100 47,100 16,000 64,100 6,200 711 726 732 8,600 56,300 15,300 $130,900 $130,900 Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 31 Service Revenue Rent Revenue Income Summary (To close revenue accounts) July 31 Income Summary Depreciation Expense Salaries and Wages Expense Utilities Expense (To close expense accounts) July 31 Owner's Capital Income Summary (To close net income / (loss)) July 31 Owner's Capital Owner's Drawings Owner's Drawings