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On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: $ 94,400 Dr. 35,600 Dr. 8,000 Dr. 81,200 Dr. 128,000 Dr. 4,000

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On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: $ 94,400 Dr. 35,600 Dr. 8,000 Dr. 81,200 Dr. 128,000 Dr. 4,000 Cr. 101 Cash 111 Accounts Receivable 121 Supplies 131 Prepaid Rent 141 Equipment 142 Accumulated Depreciation-Equip. 202 Accounts Payable 301 Emilio Gonzalez, Capital (12/1/2019) 302 Emilio Gonzalez, Drawing 17,000 Cr. 131,240 Cr. 16,400 Dr. 327,200 Cr. 11,600 Dr. 2,000 Dr. 9,200 Dr. 77,600 Dr. 15,440 Dr. 401 Fees Income 511 Advertising Expense 514 Depreciation Expense-Equip. 517 Rent Expense 519 Salaries Expense 523 Utilities Expense 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? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Analyze Journalize the closing entries in the general journal. View transaction list Journal entry worksheet 2 3 4 Record the closing entry for revenue. Note: Enter debits before credits. General Journal Date Debit Credit Dec 31, 2019 Fees income 327,200 327,200 Income summary Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Required 1 Required 2 Analyze Post the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances. Emilio Gonzalez, Capital Emilio Gonzalez, Drawing Account No. 301 Account No. 302 Credit Date Date Debit Balance Debit Credit Balance Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Income Summary Account No. 401 Account No. 399 Fees Income Debit Debit Credit Date Credit Balance Date Balance Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Depreciation Expense- Equipment Advertising Expense Account No. 511 Account No. 514 Date Debit Credit Balance Date Debit Credit Balance Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Rent Expense Salaries Expense Account No. 517 Account No. 519 Debit Date Credit Balance Date Debit Credit Balance Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Utilities Expense Account No. 523 Date Debit Credit Balance Dec 31, 2019 Dec 31, 2019 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Analyze What is the balance of the salaries expense account after closing entries are posted? Salaries expense

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