Prepare closing entries and post entries.

   

Then complete the posting in part 1. Major Advising Work Sheet (Partial) For Month Ended January 31, 20- Income Statement Balance Sheet Account Title Debit Credit Debit Credit Cash 1,327 Accounts Receivable 944 Supplies 341 Prepaid Insurance 852 Office Equipment 3,460 Accum. Depr.-Office Equipment 214 Accounts Payable 991 Wages Payable 300 Ed Major, Capital 4,076 Ed Major, Drawing 890 Advising Fees 4,154 Wages Expense 698