Chart of Accounts CHART OF ACCOUNTS Magenta Delivery Services Co. General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Rent 15 Land REVENUE 41 Fees Earned EXPENSES 51 Wages Expense 52 Rent Expense 54 Supplies Expense 59. Miscallanenus Fxnense After the accounts have been adjusted at December 31 , the end of the fiscal year, the following balances were taken from the ledger of Magenta Delivery Services Co.: Required: Required: Journalize the two entries required to close the accounts. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. 54 Supplies Expense LIABILITIES 59 Miscellaneous Expense 21 Accounts Payable 22 Unearned Fees 23 Wages Payable EQUITY 31 Ellie Liu, Capital 32 Ellie Liu, Drawing 33 Income Summary