The adjusted trial balance for Lloyd Construction as of December 31, 2017, follows:

financial accounting 1

revenue accounts

expense accounts

income summary account.

withdrawals account.

The adjusted trial balance for Lloyd Construction as of December 31, 2017, follows:No.AccountCredit101Cash15, 100104Short-term investments20,100126Supplies6,700149Notes receivable37,500167Equipment69,000168Accumulated depreciation, equipment$ 33,500173Building251,000174Accumulated depreciation, building136,500183Land81,500193Franchise26,500201Accounts payable16,100203Interest payable140233Unearned professional revenue26, 100251Long-term notes payable123,000301Sig Lloyd, capital83,800302Sig Lloyd, withdrawals2, 100401Professional revenue197,480406Rent revenue21,500606Depreciation expense, building19,100612Depreciation expense, equipment7, 100623Wages expense63, 100633Interest expense520637Insurance expense17, 100652Supplies expense11,900688Telephone expense3,500690Utilities expense6,300Totals$ 638, 120$ 638, 120Required:Prepare the closing entries made at the end of the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)View transaction listXRecord to close the revenue accounts.2 Record to close the expense accounts.3 Record to close the income summary account.4 Record to close the withdrawals account.CreditNote : = journal entry has been enteredRecord entryClear entryView general journal