Use the information below to prepare the closing entries in journal format and post to the ledger (T Accounts)

Adjusted Trial Balance

December 31, 2014

Debit Credit

Cash $28,000 debit

Accounts Receivable $10,000 debit

Prepaid Rent $6,000 debit

Accounts Payable $18,000 credit

Capital stock $34,000 credit

Equiptment $58,000 debit

Accumulated Depreciation $6,000 credit

Notes Payable $10,000 credit

Unerned Revenue $1,000 credit

Retained Earnings $7,500 credit

Sales $32,000 credit

Rent Expense $1,000 debit

Utlility Expense $5,000 debit

Dividends $500 debit

Totals $108,500 $108,500