1 Finishing the Accounting Cycle 2 It is the end of the year, and you will need to record the following to prepare financials and prepare for the new year 41 In addition to the transactions and items you have recorded and posted, during the year the following activity occ 1 Rent expense incurred and pai 2 Sales on accoun 21,600 26,250 52,620 43,500 3,750 3 Cash sales 4 COGS incurred 5 Utilities expense Incurred and paid 6 Salaries expense Incurred (all paid as of 12/31) 7 Consulting Revenue earned & received in cash 8 Inventory purchases 9 Interest Revenue earned 10 Bank Fees incurred 11 Depreciation of furniture (In addition to tab 6) 12 Depreciation of Equipment (in addition to tab 6) 13 Payments on accounts payable 14 Earned Consulting Revenue that was received in advance 15 Supplies purchased 16 Supplies Bal. at 12/31/17 17 Inventory on hand at 12/3 1/17 18 Salaries Payable Bal. at 12/31/1 19 Allowance for Uncollectible Accounts Bal. at 12/31/1 20 After cash collection, Accounts Receivable Balance 10 25,000 12 250 100 550 660 7,400 5 6 136 15 300 0 2 at 123 1/17 1,100 - Journalize this acctivity below and post the JE's to the ledger 6 2 Journalize the closing entries below, and post them to the t-accounts in tab "Ledger 3. Use the adjusted trial balance to prepare your financial statements 8-Stock issuance 9-Investments 10-AJEs &Closing entries Income Stat