Question $2$: $10$ points Prepare the closing journal entries for the following balances of a sole proprietorship as of December $31,2024.$ Use the provided schedule to write your answers. Account Balances as of December $31,2024$: $\backslash$begin$\{$tabular$\}\{|$l$|$l$|\}\backslash$hline Account & Balance $(\backslash$$$)\backslash \backslash \backslash$hline Cash & $90,000\backslash \backslash \backslash$hline A$/$R & $15,000\backslash \backslash \backslash$hline Service Revenue & $50,000\backslash \backslash \backslash$hline Salaries Expense & $30,000\backslash \backslash \backslash$hline Rent Expense & $10,000\backslash \backslash \backslash$hline A$/$P & $5,000\backslash \backslash \backslash$hline Owner's Drawings & $5,000\backslash \backslash \backslash$hline Buildings & $100,000\backslash \backslash \backslash$hline Owner's Capital & $25,000\backslash \backslash \backslash$hline $\backslash$end$\{$tabular$\}$ Required: Prepare all necessary closing entries. Answer Schedule

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