Journalize closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Feb. 28 Service Revenue Debit 14502 Credit Income Summary (To close revenue account) Feb. 28 Income Summary Utilities Expense Salaries and Wages Expense Insurance Expense Depreciation Expense Bad Debt Expense Supplies Expense Interest Expense Loss on Disposal of Plant Assets Income Tax Expense (To close expense accounts) 10622 14502 236 6960 725 110 573 700 48 300 970 Feb. 28 Income Summary Feb. 28 Retained Earnings (To close net income/(loss)) Retained Earnings Cash Dividends (To close dividends) 3880 1128 3880 1128 Post closing entries to the T-accounts. (Post entries in the order of journal entries presented above. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount on the normal side of the account.) Cash 2/1 15,600 2/1 10,820 2/1 9,600 2/1 236 2/5 4,740 2/5 2,175 2/17 648 2/18 360 2/25 3,000 2/20 1,080 2/24 4,640 2/27 236 2/28 1,128 2/28 Bal. 12,913 Accounts Receivable 2/16 4,680 2/25 3,000 2/23 5,160 2/28 240 2/28 4,500 2/28 Bal. 11,100 Supplies 1,180 2/28 2/3 2/28 Bal. 480 700 2/5 2/28 Bal. Prepaid Insurance 2,175 2/28 1,450 Prepaid Expenses 236 2/27 2/28 Bal. 2/28 236 Allowance for Doubtful Accounts 240 2/28 2/1 2/28 Bal. 2/28 Bal. Equipment 10,820 2/5 5,780 Accumulated Depreciation - Equipment 2/18 2/28 2/28 Bal. Accounts Payable 725 573 333 5,040 110 110 360 2/3 1,180 2/28 Bal. 820 Notes Payable 2/1 9,600 2/28 Bal. 9,600 Salaries and Wages Payable 2/28 2,320 2/28 Bal. 2,320 Interest Payable 2/28 48 2/28 Bal. 48 Income Taxes Payable 2/28 2/28 Bal. 970 970 Unearned Service Revenue 2/28 162 2/17 648 2/28 Bal. 486 Common Stock 2/1 2/28 Bal. Paid in Capital in Excess of Par-Common Stock 2/1 2/28 Bal. 9,000 9,000 6,600 6,600 2/28 Cash Dividends 1,128 2/20 2/28 Bal. Treasury Stock 1,080 1,080 Retained Earnings Income Summary 2/1 > > Service Revenue 2/16 4,680 2/23 5,160 2/28 4,500 2/28 Utilities Expense 236 2/24 Salaries and Wages Expense 4,640 2/28 2,320 162 2/28 Insurance Expense 725 2/28 Depreciation Expense 110 2/28 Bad Debt Expense 573 2/28 Supplies Expense 700 2/28 Interest Expense 48 2/5 Loss on Disposal of Plant Assets 300 2/28 Income Tax Expense 970