Exercise 6.6. The ledger accounts of I-Cloud Internet Company appear as follows on March 31, 2016:

Account No.	Account	Balance
101	Cash	$80,000
111	Accounts Receivable	$58.820
121	Supplies	$10,600
131	Prepaid Insurance	$25,000
141	Equipment	$118,000
142	Accumulated Depreciation Equipment	$41,320
202	Accounts Payable	$13,000
301	Lee Retha Hale, Capital	$130,000
302	Lee Retha Hale, Drawing	$13,000
401	Fees Income	$374,460
510	Depreciation Expense Equipment	$21,160
511	Insurance Expense	$11,400
514	Rent Expense	$33,000
517	Salaries Expense	$166,000
518	Supplies Expense	$5,600
519	Telephone Expense	$6,800
523	Utilities Expense	$9,400

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.