Debits Credits
Accounts payable 110000
Accounts receivable 102000
Accrued interest payable 4000
Accumulated depreciation 45000
Administrative and selling expenses 175000
Allowance for uncollectible accounts 12000
Capital assets 550000
Cash 95000
Charges for sales and services 503000
Cost fo sales and services 347000
Depreciation expense 45000
Due from General Fund 40000
Interest expense 18000
Interest revenue 28000
Transfer in from General Fund 202000
Revenue bonds payable 475000
Supplies inventory 7000
Totals 1379000 1379000 Prepare the closing entries for December 31.