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Work Sheet-partial Account Title Debit Credit Rent earned. $120,000 Salaries expense.. $46,300 Insurance expense... 7.400 Office supplies expense. 16,000 Bike repair expense.. 4,200 Depreciation expense-Bikes.

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Work Sheet-partial Account Title Debit Credit Rent earned. $120,000 Salaries expense.. $46,300 Insurance expense... 7.400 Office supplies expense. 16,000 Bike repair expense.. 4,200 Depreciation expense-Bikes. 20.500 Totals. $94,400 $120,000 Net income. 25,600 Totals. $120,000 $120,000 Prepare the closing entries for the above partial worksheet

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