closing entries for revenue, expenses, balance of income, drawing account and ledger account

y: Comel BALILISE uue H 1 The ledger accounts of AXX Internet Company appear as follows on March 31, 2019: 131 ACCOUNT NO. ACCOUNT 101 Cash 111 Accounts Receivable 121 Supplies Prepaid Insurance 141 Equipment 142 Accumulated Depreciation- Equipment 202 Accounts Payable 301 Aretha Hinkle, Capital 302 Aretha Hinkle, Drawing 401 Fees Income Depreciation Expense- 510 Equipment 511 Insurance Expense 514 Rent Expense 517 Salaries Expense 518 Supplies Expense 519 Telephone Expense 523 Utilities Expense BALANCE $ 67,000 36,060 9,300 23,700 105,000 40,020 11,700 117,000 11,700 316,600 19,860 10,100 31,700 153,000 4,300 5,500 8,100 All accounts have normal balances. Required: 1. Prepare the closing entries. 2. Post the transactions in to the appropriate ledger accounts. Hint: Be sure to enter beginning balances. Complete this question by entering your answers in the tabs below. General Journal Ledgers Prepare the closing entries. View transaction list Journal entry worksheet 2 3 4 Record the closing entry for revenue. Note: Enter debits before credits. General Journal Debit Credit Date Mar 31, 2019 General Journal Ledgers Prepare the closing entries. View transaction list Journal entry worksheet