college accounting a contemporary approach chapter 6 exercise 6.6

The ledger accounts of AXX Internet Company appear as follows on March 31, 2019: ACCOUNT NO. 101 111 121 131 141 142 ACCOUNT Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Aretha Hinkle, Capital Aretha Hinkle, Drawing Fees Income Depreciation Expense-Equipment BALANCE $ 40.000 29,910 5,300 12,500 59,000 20,660 7.000 65,000 6,500 187,230 10,580 202 301 302 401 510 511 514 517 518 519 523 Insurance Expense Rent Expense Salaries Expense Supplies Expense Telephone Expense Utilities Expense 5,700 16,500 83,000 2,800 3,400 4,700 All accounts have normal balances. Journalize and post the closing entries. Use 4 as the page number for the general journal in journalizing the closing entries. Use account number 399 for the Income Summary account. Closing entries