Hello!!

On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances:

101	Cash	$	33,200	Dr.
111	Accounts receivable		16,400	Dr.
121	Supplies		2,600	Dr.
131	Prepaid Rent		39,200	Dr.
141	Equipment		50,000	Dr.
142	Accumulated depreciationEquip.		1,300	Cr.
202	Accounts payable		7,100	Cr.
301	Emilio Gonzalez, Capital (12/1/20X1)		51,620	Cr.
302	Emilio Gonzalez, Drawing		6,800	Dr.
401	Fees income		127,760	Cr.
511	Advertising expense		4,400	Dr.
514	Depreciation expenseEquip.		860	Dr.
517	Rent expense		3,200	Dr.
519	Salaries expense		24,800	Dr.
523	Utilities expense		6,320	Dr

Required:

1. Journalize the closing entries in the general journal.
2. Post the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances.

Analyze: What is the balance of the Salaries Expense account after closing entries are posted?

3 Requirements: Journalize the closing entries in the General journal

Post closing entries to the general ledger accounts.

Analyze (Salaries expense)

Thank you very much!!!