No. Account Title Debit Credit
101 Cash $ 7,000
104 Short-term investments 23,500
126 Supplies 8,200
128 Prepaid insurance 7,500
167 Equipment 45,000
168 Accumulated depreciation-Equipment $ 22,500
173 Building 162,000
174 Accumulated depreciation – Building 54,000
183 Land 66,770
201 Accounts payable 17,000
203 Interest Payable 2,900
208 Rent Payable 3,500
210 Wages Payable 2,100
213 Property taxes payable 900
233 Unearned professional fees 7,100
251 Long-term notes payable 66,000
301 E. Tamar, Capital 131,700
302 E. Tamar, Withdrawals 11,000
401 Professional fees earned 102,000
406 Rent earned 15,000
407 Dividends earned 3,000
409 Interest earned 2,200
606 Depreciation expense - Building 11,800
612 Depreciation expense – Equipment 6,750
623 Wages expense 30,500
633 Interest expense 4,700
637 Insurance expense 8,900
640 Rent expense 10,900
652 Supplies expense 5,500
682 Postage expense 2,500
683 Property taxes expense 5,000
684 Repairs expense 6,200
688 Telephone expense 3,100
690 Utilities expense 3,000
Totals $429,820
$429,900



E. Tamar invested $7,000 cash in the business during year 2009 (the December 2009, credit balance of the E. Tamar, Capital account was $124,700). Tamar Construction is required to make a $7,500 payment on its long-term notes payable during 2010.
Required: Prepare the necessary closing entries at December 31, 2009.