On August 1, 2012, Lincoln Services was started and at the end of the year December 31, 2012, had the following unadjusted trial balance. Prepare the year-end adjusting and closing entries. please record the transactions in the General Journal provided. 

Account Title	Debit	Credit
Cash	17,500
Supplies	8,900
Prepaid Insurance	6200
Equipment	131000
Accumulated Depreciation Equipment		25250
Account Payable		5800
Interest Payable		0
rent payable		0
wages payable		0
property tax payable		0
notes payable		24000
common Stock		77600
dividends	30000
construction fees earned		134000
depreciation expense	0
wage expense	45860
interest expense	2640
insurance expense	0
rent expense	13200
supply expense	0
property tax expense	4600
repair expense	2810
utility expense	4000
totals	266710	26710

Data for adjusting and closing Entries

1. Supplies available at year-end amount $3200

2. Expired prepaid insurance at year-end amounted to $3900

3. Depriciation on the equiment $ 8500

4. The December utility expense of $550 has not yet been recorded.

5. At year-end employees had accrued wages owed of $1600

6. The accrued rent expense for December is $200

7. Property taxes assessed not yet paid amount to $900

8. Interest on the Note Payable for December amounts to $240