Exercise $4\mathrm{.}19$ a$-$e

On December $31,$ the adjusted trial balance of Cullumber Employment Agency shows the following selected data.

Accounts Receivable $$23,600$ Service Revenue $$91,700$

Interest Expense $7,000$ Interest Payable $3,900$

Analysis shows that adjusting entries were made to $(1)$ accrue $$5,300$ of service revenue and $(2)$ accrue $$3,900$ interest expense.

$($a$)$

Prepare the closing entries for the temporary accounts shown above at December $31.$

$($b$)$

Prepare the reversing entries on January $1.$

$($c$)$

Enter the unadjusted balances and the entries in $($a$)$ and $($b$).$

$($d$)$

Prepare the entries to record the collection of the accrued revenue on January $10$ and the payment of all interest due $($$$4,700)$ on January $15.$

$($e$)$

Post the entries in $($d$)$ to the temporary accounts