Identify which of the following accounts should be closed with a debit or a credit at the end of the fiscal year. If it is not closed, mark as n/a.​
1. Utilities Payable
2. Utilities Expense
3. Supplies
4. Supplies Expense
5. Fees Earned
6. Unearned Fees
7. Accounts Receivable
8. Jason Hill, Drawing
9. Jason Hill, Capital
10. Accumulated Depreciation-Equipment
11. Depreciation Expense-Equipment
12. Equipment
13. Prepaid Insurance
14. Insurance Expense

Utilities Payable

A liability account recording amounts owed for utilities such as electricity, water, and gas that have been consumed but not yet paid for.

Utilities Expense

Costs associated with the consumption of utilities such as electricity, gas, water, and sewer services by a business or household.

Supplies

Supplies refer to the materials and items that are used in the daily operations of a business, office, or institution, often consumable and requiring regular replenishment.