Prepare the closing entries (no comments are required) for the following Adjusted Trial Balance dated 30/06/16 and answer the question.

Accounts should be closed in the order they appear in the Trial Balance. Do not use punctuation when entering amounts.

Adjusted TB
Account	Dr	Cr
Cash At Bank	40,000
Accounts Receivable	50,000
Inventory	110,000
Prepaid Rent	5,000
Equipment	100,000
Accum Depreciation		20,000
Accounts Payable		65,000
Interest Payable		5,000
Notes Payable		180,000
Owners Capital		20,000
Drawings	5,000
Income Summary
Service Revenue		140,000
Depreciation Expense	20,000
Rent Expense	20,000
Salaries Expense	80,000
Total	430,000	430,000

			Dr	Cr
30/06/16	Answer Service Revenue or Income Summary		Answer
		Answer Income Summary or Service Revenue or Owners Capital		Answer
30/06/16	Answer Income Summary or Owners Capital		Answer
		Answer Depreciation Expense or Income Summary		Answer
		Answer Owners Drawings or Rent Expense		Answer
		Answer Salaries Expense or Owners Capital		Answer
30/06/16	Answer Income Summary or Owners Capital		Answer
		Answer Owners Capital or Income Summary		Answer
30/06/16	Answer Owners Capital or Owners Drawings or Capital Introduced		Answer
		Answer Owners Drawings or Owners Capital or Capital Introduced		Answer