Prepare the necessary closing entries based on the following selected accounts. (Credit account titles are automatically...

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Prepare the necessary closing entries based on the following selected accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Accumulated Depreciation Depreciation Expense $12,000 7,200 Owner's Capital 24,000 Owner's Drawings 10,800 Salaries and Wages Expense 22,800 Service Revenue 48,000 Account Titles and Explanation (To close revenue account) (To close expense accounts) (To close net income/loss) (To close owner's drawings) Debit Credit Prepare the necessary closing entries based on the following selected accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Accumulated Depreciation Depreciation Expense $12,000 7,200 Owner's Capital 24,000 Owner's Drawings 10,800 Salaries and Wages Expense 22,800 Service Revenue 48,000 Account Titles and Explanation (To close revenue account) (To close expense accounts) (To close net income/loss) (To close owner's drawings) Debit Credit