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The July 31, 2018 adjusted trial balance of Anderson Company is found below:
| Cash | $1,000 | |
| Accounts receivable | 1,500 | |
| Supplies | 500 | |
| Notes receivable | 600 | |
| Equipment | 32,000 | |
| Accumulated depreciation - equipment | | $14,000 |
| Land | 58,000 | |
| Accounts payable | | 500 |
| Notes payable | | 1,000 |
| Mortgage payable | | 30,000 |
| Common shares | | 100 |
| Retained earnings | | 32,000 |
| Dividends | 2,000 | |
| Repairs revenue | | 55,000 |
| Wages expense | 20,000 | |
| Supplies expense | 1,000 | |
| Depreciation expense | 3,000 | |
| Maintenance expense | 5,000 | |
| Interest expense | 2,000 | |
| Income tax expense | 6,000 | |
| Totals | $132,600 | $132,600 |
Required:
Prepare a closing entry/entries for the company.
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