4. On December 31, the adjusted trial balance of XYZ Company shows the following selected data. Accounts Receivable $24,

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4 On December 31 The Adjusted Trial Balance Of Xyz Company Shows The Following Selected Data Accounts Receivable 24 1 (51.71 KiB) Viewed 36 times

4. On December 31, the adjusted trial balance of XYZ Company shows the following selected data. Accounts Receivable $24,500 Service Revenue $92,500 Interest Expense 7,700 Interest Payable 2,200 Analysis shows that adjusting entries were made to (1) accrue $5,000 of service revenue and (2) accrue $2,200 interest expense. Required: Prepare the closing entries for the temporary accounts shown above at December 31.