Financial Statements and Closing Entries

The Gorman Group is a financial planning services firm owned and operated by Nicole Gorman. As of October 31, 2018, the end of the fiscal year, the accountant for The Gorman Group prepared an end-of-period spreadsheet, part of which follows:

The Gorman Group End-of-Period Spreadsheet For the Year Ended October 31, 2018
	Adjusted Trial Balance
Account Title	Dr.	Cr.
Cash	$15,460
Accounts Receivable	33,660
Supplies	5,260
Prepaid Insurance	11,360
Land	120,000
Buildings	430,000
Accumulated Depreciation-Buildings		140,100
Equipment	311,000
Accumulated Depreciation-Equipment		182,500
Accounts Payable		39,820
Salaries Payable		3,950
Unearned Rent		1,790
Common Stock		179,000
Retained Earnings		332,360
Dividends	29,900
Service Fees		567,820
Rent Revenue		6,000
Salaries Expense	407,070
Depreciation Expense-Equipment	22,100
Rent Expense	18,500
Supplies Expense	13,100
Utilities Expense	11,840
Depreciation Expense-Buildings	7,890
Repairs Expense	6,520
Insurance Expense	3,580
Miscellaneous Expense	6,100
	1,453,340	1,453,340

1-Journalize the entries that were required to close the accounts at October 31. For a compound transaction, if a box does not require an entry, leave it blank.