Q3 (25 marks) The adjusted trial balance of Richardson Electric at May 31, 2020 is as follows: Richardson Electric Trial Balance May 31, 2020 Credit Debit $6,000 2,000 18,000 Cash Prepaid insurance Equipment Accumulated depreciation, equipment Salaries payable Mitch Richardson, capital Mitch Richardson, withdrawals Repair fees earned Uneamed repair fees Insurance expense Depreciation expense Total $20,000 1,000 12,700 6,000 11,800 1,200 3,500 11,200 $46,700 $46,700 Prepare the closing entries