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14. The adjusted trial balance for Villagosa Co. at 12/31/20 reported a balance in service revenue of $4,900,000, a balance in salary expense of $2,400,000, a balance in interest expense of $405,000, a balance in operating expenses of $400,000, a balance in prepaid insurance of $120,000, a balance in cash of $6,550,000 a balance in salaries payable of $75,000, a balance in deferred revenue of $4,500,000 and a balance in retained earnings of $400,000. All account balances are nomal balances for the respective accounts. Provide Villagosa's closing entries at 12/31/20. Use an income summary account. Account name Debit Credit