17 6 paints On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: 101 Cash 111 Accounts receivable 121 Supplies 131 Prepaid Rent 141 Equipment 142 Accumulated depreciation-Equip. $ 41,200 Dr. 17,200 Dr. 3,400 Dr. 40,000 Dr. Check my work 58,000 Dr. 1,700 Cr. look 282 Accounts payable 301 Emilio Gonzalez, Capital (12/1/20x1) Print 302 Emilio Gonzalez, Drawing 5,200 Dr. 948 Dr. 4,000 Dr. 32,800 Dr. 7,120 Dr. References 401 Fees incone 511 Advertising expense 514 Depreciation expense-Equip. 517 Rent expense 519 Salaries expense. 523 Utilities expense Required: 1. Journalize the closing entries in the general journal. 2. Post the closing entries to the general ledger accounts. Hint Be sure to enter beginning balances Analyze: What is the balance of the Salaries Expense account after closing entries are posted? Complete this question by entering your answers in the tabs below. Requred 1 Required 2 Analyze Post the closing entries to the general ledger accounts. Hint: be sure to enter beginning balances. Emilio Gonzalez, Capital Emilio Gonzalez, Drawing Date Dec 31, 20X1 Dec 31, 20X1 Dec 31, 20X1 Account No. 301 Debit Credit Balance Date Dec 31, 20X1 Income Summary Date Dec 31, 20X1 Dec 31, 20X1 Dec 31, 20X1 Dec 31, 20X1 Account No. 302 Debit Credit Balance 7,600 7,600 0 Account No. 399 Fees Income Account No. 4011 Debit Credit Balance Date Debit Credit Balance Dec 31, 20X1 Dec 31, 20X1 148240 148240 Advertising Expense Date Dec 31, 20X1 Dec 31, 20X1 Depreciation Expense- Account No. 511 Account No. 514 Equipment Debit Credit Balance Date Debit Credit Balance Dec 31, 20X1 Dec 31, 5,2006 (5,200) 20X1 1,700 O (1,700) Rent Expense nala nahit Account No. 517 Salaries Expense Behit Account No. 519 [ZUAT Dec 31, 20X1 Advertising Expense Date Dec 31, 20X1 Dec 31, 20X1 Account No. 511 Debit Credit Rent Expense Date Dec 31, 20X1 Dec 31, 20X1 5,200 Depreciation Expense- Equipment Account No. 514 Balance Date Debit Credit Balance Dec 31, 20X1 (5,200) Dec 31, 20X1 1,700 (1,700) Salaries Expense Account No. 519 Balance Date Debit Credit Balance Dec 31, -4000 20X1 Dec 31, 20X1 32,800 (32,800) Account No. 517 Debit Credit Utilities Expense Date Dec 31, 20X1 Dec 31, 20X1 4,000 Account No. 523 Debit Credit Balance 7,120 (7.120) 1.7 6 points Required: 1. Journalize the closing entries in the general journal. 2. Post the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances. Analyze: What is the balance of the Salaries Expense account after closing entries are posted? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Analyze What is the balance of the Salaries Expense account after closing entries are posted? Salaries expense < Required 2 Analyze >