Provide the closing entry for the following trial balance atyear end:
DR. CR.
Cash $5,275
A/R $1,850
Equipment $56,480
A/P $12,350
OwnersCapital $70,405
Owners Withdrawals $6,000
Revenue $85,000
Cost of Goods Sold $25,000
Salaries $50,000
PayrollTaxes $8,900
Utilities $13,800
