ACCOUNT 111 Accounts receivable The ledger accounts of AXX Internet Company appear as follows on March 31, 20X1: ACCOUNT NO. 101 Cash BALANCE $ 72,000 58,020 121 Supplies 9,800 131 Prepaid, insurance 24,200 141 Equipment 110,000 142 Accumulated depreciation-Equipment 40,520 202 Accounts payable 12,200 301 Aretha Hinkle, Capital 122,000 302 Aretha Hinkle, Drawing 12,200 401 Fees income 352,060 510 Depreciation expense-Equipment 20,360 511 514 Rent expense Insurance expense 517 Salaries expense 518 Supplies expense 519 Telephone expense 523 Utilities expense All accounts have normal balances. Required: 1. Prepare the closing entries. 2. Post the transactions into the appropriate ledger accounts. Hint: Be sure to enter beginning balances. 10,600 32,200 158,000 4,800 6,000 8,600 Complete this question by entering your answers in the tabs below. General Journal Ledgers Complete this question by entering your answers in the tabs below. General Journal Ledgers Post the transactions into the appropriate ledger accounts. Hint: Be sure to enter beginning balances. Aretha Hinkle, Capital Aretha Hinkle, Drawing Date Mar 31, 20X1 Mar 31, 20X1 Mar 31, 20X1 Account No. 301 Debit Credit Balance Date Mar 31, 20X1 Mar 31, 20X1 Account No. 399 Debit Credit Balance Income Summary Date Mar 31, 20X1 Mar 31, 20X1 Mar 31, 20X1 Account No. 302 Debit Credit Balance Fees Income Account No. 401 Debit Credit Balance Date Mar 31, 20X1 Mar 31, 20X1 Account No. 511 Debit Credit Balance Depreciation Expense-Equipment Account No. 510 Insurance Expense Date Mar 31, 20X1 Mar 31, 20X1 Debit Credit Balance Date Mar 31, 20X1 Mar 31, 20X1 Date Mar 31, 20X1 Mar 31, 20X1 Rent Expense Account No. 517 Debit Credit Balance, Account No. 514 Salaries Expense Debit Credit Balance Date Mar 31, 20X1 Mar 31, 20X1 Mar 31, 20X1 Account No. 511 Debit Credit Balance Depreciation Expense-Equipment Account No. 510 Insurance Expense Date Mar 31, 20X1 Mar 31, 20X1 Debit Credit Balance Date Mar 31, 20X1 Mar 31, 20X1 Account No. 517 Debit. Credit Balance Rent Expense Account No. 514 Salaries Expense. Date: Debit Credit Balance Mar 31, 20X1 Date Mar 31, 20X1 Mar 31, 20X1 Mar 31, 20X1 Supplies Expense Date Mar 31, 20X1 Mar 31, 20X1 Utilities Expense Date Mar 31, 20X1 Mar 31, 20X1 Account No. 519 Debit Credit Balance Account No. 518 Debit Credit Balance Telephone Expense Date: Mar 31, 20X1 Mar 31, 20X1 Account No. 523 Debit Credit Balance