mber 31. (Record debits first, then credits Select the explanation on the last line of the journal entry table) Explanatic Data Table - X $ 37 250 2.600 1.000 100 Cash Accounts Receivable Prepaid Rent Once Supplies Equipment Accumulated Depreciation --Equipment Accounts Payable Notos Payable (long torm) 5.450 3.000 2,000 3.200 34,500 1 800 5,700 7.300 Billings, Capital ButingsWithdrawals Service Revenue Depreciation Expense-Equipment Salaries Expense Ront Expense Utilities Exponso Supplies Expense Explanatic 200 900 400 700 Print Done Billings Auto Repair had the following account balances after adjustments. Assume all accounts had normal balances cick the icon to view the account balances) 14. Prepare the closing entries for Billings at Docomber 31 15. What is the balance of Billings, Capital attor closing entines have been recorded? (Use a Taccount to determine the balanco) 14. Prepare the closing ontries for Billings at December 31 Record debts fest, then credits Select the explanation on the list line of the journal entry table) First we will close the Service Revenue account Date Accounts and Explanation Debit Credit Clos (1) Debit Credit Next we will close the expense accounts Date Accounts and Explanation Clos (2) Time Remaining: 02 33.02 Next Now we will close the income Summary account Date Accounts and Explanation Debit Credit Clos (3) Finally close the Withdrawals account Debit Credit Date Accounts and Explanation Clos (4) 15. What is the balance of Billings, Capital after closing entries have been recorded? (Use a Taccount to determine the balance Time Remaining: 02:32:42 15. What is the balance of Balings Capital after closing entries ve been recorded? (Use a Taccount to determine the balance Use Clos" and the corresponding number as shown in the journal ently as posting once-"Clos (1) Coser etc. These hace of this account has bee entered for you Post any closing entries to this account and the calculate the post dosing blanco ( 341 of the account Brings, Capital 37 250 Bal