From the following posted T accounts, reconstruct the closing journal entries for March 31, 201X. M. Faulks,

From the following posted T accounts, reconstruct the closing journal entries for March 31, 201X.

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M. Faulks, Capital Insurance Expense Withdrawals 1,700 8,000 (Mr. 1) 300 Closing 300 4,200 Net Income M. Faulks, Withdrawals Wage Expense 1,700 Closing 1,700 100 Closing 100 Income Summary Expenses 1,100 Revenue 5,300 Rent Expense 200 Closing 200 Closing 4,200 Balance 4,200 Salon Fees Depreciation Expense, Equipment Closing 5,300 5,300 500 Closing 500