K ces The ledger accounts of Perera Company appear as follows on March 31, 20X1: ACCOUNT NUMBER 101 111 121 131 141 142 202 301 302 401 510 511 514 517 518 519 523 ACCOUNT Cash Accounts receivable Supplies Prepaid insurance Equipment Accumulated depreciation-Equipment Accounts payable Anna Perera, Capital Anna Perera, Drawing Fees income Depreciation expense-Equipment Insurance expense Rent expense Salaries expense Supplies expense Telephone expense Utilities expense All accounts have normal balances. Required: BALANCE $ 68,000 36,160 9,400 23,800 106,000 40,120 11,800 118,000 11,800 319,400 19,960 10, 200 31,800 154,000 4,400 5,600 8,200 1. Prepare the closing entries. 2. Post the transactions into the appropriate ledger accounts. Hint: Be sure to enter beginning balances. Check my we

Prepare the closing entries: The ledger accounts of Perera Company appear as follows on March 31,20X1 : All accounts have normal balances Required: 1. Prepare the closing entries. 2. Post the transactions into the approptiate ledger accounts. Hint Be sure to enter beginning baiances. \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ Rent Expense } & \multicolumn{2}{|c|}{ Account Number 514} \\ \hline Date & Credit & Balance \\ \hline March 31, 20X1 & & \\ \hline March 31,20X1 & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{2}{|c|}{SalariesExpenseDate Debit } & Account Number 517 \\ \hline Credit & Balance \\ \hline March 31, 20X1 & & & \\ \hline March 31, 20X1 & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{2}{|c|}{SupptiesExpenseDate} & \multicolumn{2}{|c|}{AccountNumber518Credit} \\ \hline March 31,201 & & \\ \hline March 31,201 & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{2}{|c|}{TelephoneExpenseDate Debit } & \multicolumn{2}{|c|}{AccountNumber519Credit} \\ \hline March 31,201 & & \\ \hline March 31,201 & & \\ \hline & \\ \hline & \\ \hline \end{tabular} March 31, 20X1 General Journal \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline \multicolumn{2}{|c|}{ Anna Perera, Capital } & \multicolumn{2}{|c|}{ Account Number 301} & \multicolumn{2}{|c|}{ Anna Perera, Drawing } & \multicolumn{2}{|c|}{ Account Number 302} \\ \hline Date & Debit & Credit & Balance & Date & Debit & Credit & Balance \\ \hline March 31,201 & & & & March 31,201 & & & \\ \hline March 31,201 & & & & March 31,201 & & & \\ \hline March 31,201 & & & & & & & \\ \hline \multicolumn{2}{|c|}{ Income Summary } & \multicolumn{2}{|c|}{ Account Number 399} & \multicolumn{2}{|c|}{ Fees Income } & \multicolumn{2}{|c|}{ Account Number 401} \\ \hline Date & Debit & Credit & Balance & Date & Debit & Credit & Balance \\ \hline March 31,201 & & & & March 31,201 & & & \\ \hline \multicolumn{3}{|l|}{ March 31,201} & & Murch 31,201 & & & \\ \hline March 31,201 & & & & & & & \\ \hline \multicolumn{2}{|c|}{ Depreciation Expense-Equipment } & \multicolumn{2}{|c|}{ Account Number 510} & \multicolumn{2}{|c|}{ Insurance Expense } & \multicolumn{2}{|c|}{ Account Number 511} \\ \hline Date & Debit & Credit & Balance & Date & Debit & Credit & Balance \\ \hline \multicolumn{2}{|l|}{ March 31,201} & & & March 31, 20X1 & & & \\ \hline March 31,201 & & & & March 31,201 & & & \\ \hline & & & & & & & \\ \hline Rent & & Accou & ber 514 & Salaries & ise & Accoum & ber 517 \\ \hline \end{tabular}