Exercise 6.6 (Algo) Closing entries. LO 6-1 The ledger accounts of AXX Internet Company appear as follows on March 31, 20X1: ACCOUNT NO ACCOUNT 101 Cash 111 Accounts receivable 121 Supplies 131 Prepaid insurance 141 Equipment 142 Accumulated depreciation-Equipment 202 Accounts payable 301 Aretha Hinkle, Capital 302 Aretha Hinkle, Drawing 401 Fees income 510 Depreciation expense-Equ 511 Insurance expense 514 Rent expense 517 Salaries expense 518 Supplies expense 519 Telephone expense 523 Utilities expense 5 BALANCE $ 78,000 58,620 10,400 24,800 116,000 41,120 12,800 128,000 12,800 368, 860 20,960 11, 200 32,800 164,000 5,400 6,600 9,200 All accounts have normal balances. Required: 1. Prepare the closing entries. !. Post the transactions into 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 Record the closing entry for revenue. Note: Enter debits before credits. Date General Journal Debit Credit Mar 31, 20X1 Record entry Clear entry View general journal Check my work Exercise 6.6 (Algo) Closing entries. LO 6-1 The ledger accounts of AXX Internet Company appear as follows on March 31, 20X1: ces ACCOUNT NO. ACCOUNT 101 Cash 111 Accounts receivable 121 Supplies 131 Prepaid insurance 141 Equipment 142 Accumulated depreciation-Equipment 202 Accounts payable 301 Aretha Hinkle, Capital 302 Aretha Hinkle, Drawing 401 Fees income 510 Depreciation expense-Equipment 511 Insurance expense 514 Rent expense 517 Salaries expense 518 Supplies expense 519 Telephone expense 523 Utilities expense BALANCE $ 78,000 58,620 10,400 24,800 116,000 41,120 12,800 128,000 12,800 368,860 20,960 11,200 32,800 164,000 5,400 6,600 9, 200 All accounts have normal balances. Required: 1. Prepare the closing entries. :. Post the transactions into 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 Record the closing entry for expenses. Note: Enter debits before credits Date General Journal Debit Credit Mar 31, 20X1 Record entry clear entry View general journal Check m B Exercise 6.6 (Algo) Closing entries. LO 6- The ledger accounts of AXX Internet Compar appear as follows on March 31, 20X1: pok nt BALANCE $ 78,000 58,620 10,400 24,800 116,000 41,120 12,800 128,000 int ACCOUNT NO. ACCOUNT 101 Cash 111 Accounts receivable 121 Supplies 131 Prepaid insurance 141 Equipment 142 Accumulated depreciation-Equipment 202 Accounts payable 301 Aretha Hinkle, Capital 302 Aretha Hinkle, Drawing 401 Fees income 510 Depreciation expense-Equipment 511 Insurance expense 514 Rent expense 517 Salaries expense 518 Supplies expense 519 Telephone expense 523 Utilities expense 3 ences 12,800 368,860 20,960 11, 200 32,800 164,000 5,400 6,600 9,200 All accounts have normal balances. Required: 1. Prepare the closing entries. !. Post the transactions into 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 1 2 3 4 > Record the closing entry for the balance of income summary. Note: Enter debits before credits Date General Journal Debit Credit Mar 31, 20X1 Record entry Clear entry View general journal Check my work Exercise 6.6 (Algo) Closing entries. LO 6-1 The ledger accounts of AXX Internet Company appear as follows on March 31, 20X1: ACCOUNT NO. ACCOUNT 101 Cash 111 Accounts receivable 121 Supplies 131 Prepaid insurance 141 Equipment 142 Accumulated depreciation-Equipment 202 Accounts payable 301 Aretha Hinkle, Cap Aretha Hinkle, Drawing 401 Fees income 510 Depreciation expense-Equipment 511 Insurance expense 514 Rent expense 517 Salaries expense 518 Supplies expense 519 Telephone expense 523 Utilities expense 5 302 BALANCE $ 78,000 58,620 10,400 24,800 116,000 41,120 12,800 128,000 12,800 368, 860 20,960 11,200 32,800 164,000 5,400 6,600 9,200 All accounts have normal balances. Required: 1. Prepare the closing entries. !. Post the transactions into 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 Record the closing entry for the drawing account. Note: Enter debits before credits General Journal Debit Credit Date Mar 31, 20X1 Record entry Clear entry View general journal