er Efficient Office Systems uses a perpetual inventory system The adjusted trial balance of Efficient Office Systems at March 31, 2024, follows (Click the icon to view the adjusted trial balance) Read the requirements Requirement 1. Journalize the required closing entries at March 31, 2024. (Record debits first, then credits Select the explanation on the last line of the journal entry table.) Start by closing revenues. Do not close expenses or contra-revenue accounts, we will do this in the next step A A Date Accounts and Explanation Debit Credit Mar 31 Clos (1) Close expenses and other temporary accounts for the period Date Accounts and Explanation Mar 31 Debit Credit Clos (2) Close Income Summary Date Accounts and Explanation Debit Credit Mar 31 Clos (3) tion Efficient Office Systems uses a perpetual inventory system. The adjusted trial balance of Efficient Office Systerns at March 31, 2024, follows: Click the icon to view the adjusted trial balance) Read the requirements Close withdrawals Date Accounts and Explanation Debit Credit Mar 31 Clos (4) Requirement 2. The following T-accounts have been set up Income Summary Miller, Capital and Miller. Withdrawals. Post the closing entries to the T-accounts, and calculate their ending balances Use "Clos" and the corresponding number as shown in the journal entry as posting references,"Clos (1)", "Clos (2etc The adjusted balance of each account has been entered for you For any accounts with a zero balance after closing, enter a "O on the normal side of the account For Income Summary, calculate and enter the balance ("Bal") before posting the entry to close out the account Post the entry to close Income Summary account on the line after the balance prior to closing (the third line) and then show the post-closing balanco (Bal) on the last (fourth) line of the account Review the closing journal entries you prepared above Miller, Withdrawals Miller, Capital Income Summary 44,000 16,600 Adi Bal Adj Bal Bal Requirement 3. How much was Efficient's not income or net loss? sor Efficient had a net Choose from any list or enter any number in the input fields and then continue to the next question Save for Later 9:59 PM March 31, 2024 Balance Account Title Debit Credit Cash 3,800 13,900 30,300 1,500 6,300 43.100 13,300 Accounts Receivable Merchandise Inventory Estimated Returns Inventory Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Refunds Payable Salaries Payable Notes Payable, long-term Miller, Capital Miller, Withdrawals Sales Revenue 6.200 1,900 1.200 8,000 16,600 44,000 233,000 700 Sales Discounts Forfeited Cost of Goods Sold Selling Expense Administrative Expense 93,200 27,500 14,800 2,500 Interest Expense 280,900 $ 280,900 Total Print Done