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1. You have been given the following adjusted ledger balance: Cash Accounts Rec. Pre-paid expenses Land Equip. Accum. Depr. Accts. Pay. Notes Pay. RSC Capital

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1. You have been given the following adjusted ledger balance: Cash Accounts Rec. Pre-paid expenses Land Equip. Accum. Depr. Accts. Pay. Notes Pay. RSC Capital RSC Drawing Income Summary Sales Wage Exp. Maint Exp. Insr. Ex Depr. Exp. $ 100,000 300,000 50,000 100,000 400,000 175,000 150,000 50,000 100,000 25,000 805,000 200,000 75,000 10,000 20,000 Required: Prepare closing journal entries

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