Homework: Unit 3 Assignment Question 3, TIF4-3 (book/static) Part 1 of 5 HW Score: 4.9%, 5 of 102 points O Points: 0015 Save Benson Auto Repair had the following account balances after adjustments. Assume al accounts had normal balances Click the icon to view the account balances) 14. Prepare the closing entries for Benson at December 31 15. What is the balance of Retained Earings alter closing entries have been recorded? (Use a T-account to determine the balance.) 14. Prepare the dosing entries for Benson at December 31. Rected debits first, then credits. Select the explanation on the last line of the journal entry table.) First we will close the Service Revenue account, Date Accounts and Explanation Credit Clos (1) Debat - X Data table $ $ Cash Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Notes Payable (long-term) 4,000 Common Stock 3,200 Retained Eaming January 1 1.800 Dividends 3,000 Service Revenue 4,800 Depreciation Expense quipment 1,600 Salaries Expense 5,400 Rast Expense 7.000 Utilities Expense Supplies Exporte 20.000 15.700 2.100 1.500 300 100 500 000 100 Prin Done