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

101	Cash	$	34,200	Dr.
111	Accounts Receivable		16,500	Dr.
121	Supplies		2,700	Dr.
131	Prepaid Rent		39,300	Dr.
141	Equipment		51,000	Dr.
142	Accumulated DepreciationEquip.		1,350	Cr.
202	Accounts Payable		7,200	Cr.
301	Emilio Gonzalez, Capital (12/1/2019)		52,620	Cr.
302	Emilio Gonzalez, Drawing		6,900	Dr.
401	Fees Income		130,320	Cr.
511	Advertising Expense		4,500	Dr.
514	Depreciation ExpenseEquip.		870	Dr.
517	Rent Expense		3,300	Dr.
519	Salaries Expense		25,800	Dr.
523	Utilities Expense		6,420	Dr.

Required:

1. Record the closing entry for revenue.

2. Record the closing entry for expenses.

3. Record the closing entry for the balance of income summary.

4. Record the closing entry for the drawing account.

What is the balance of the salaries expense account after closing entries are posted?

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 Salerles Expense account after closing entries are posted? Complete this question by entering your answers in the tabs below Required 1Required 2Analyze Post the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances. Emilio Gonzalez, C Emilio Gonzalez, Date Debit Balance Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Account No. 399 Fees Income Account No.401 Date Debit Debit Balance Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Advertising Expense Account No. 511 Account No. 514 Equipment Date Debit Balance Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Rent Expense Account No. 517 Account No. 519 Date Debit Balance Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Account No. 523 Date Dec 31, 2019 Dec 31, 2019