On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: 101 Cash 111 Accounts receivable 121 Supplies 131 Prepaid Rent 141 Equipment 142 Accumulated depreciation-Equip. 202 Accounts payable 301 Emilio Gonzalez, Capital (12/1/20X1) 302 Emilio Gonzalez, Drawing 401 Fees income 511 Advertising expense 514 Depreciation expense-Equip. 517 Rent expense 519 Salaries expense 523 Utilities expense $ 27, 200 Dr 15,800 Dr. 2,000 Dr. 38,600 Dr. 44,000 Dr. 1,000 Cr. 6,500 Cr 45,620 Cr. 6,200 Dr. 112,400 Cr. 3,800 Dr. 800 Dr. 2,600 Dr. 18,800 Dr. 5, 720 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? Complete this question by entering your answers in the tabs below. View transaction lit X 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. Credit Note : = journal entry has been entered Record entry Clear entry View general jour Requirea + Requirea 2 Analyze Post the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances Emilio Gonzalez, Capital Account No. 301 Emilio Gonzalez, Drawing Date Debit Credit Balance Date Debit Dec 31, 20x1 Dec 31, 20X1 Dec 31, 20x1 Dec 31, 20X1 Dec 31, 20X1 Account No. 302 Credit Balance Income Summary Date Debit Account No. 399 Credit Balance Account No. 401 Credit Balance Fees Income Date Debit Dec 31, 20X1 Dec 31, 20X1 Dec 31, 20X1 Dec 31, 20X1 Dec 31, 20X1 Account No. 511 Account No. 514 Advertising Expense Date Debit Dec 31, 20x1 Dec 31, 20X1 Credit Balance Depreciation Expense- Equipment Date Debit Dec 31, 20x1 Dec 31, 20X1 Credit Balance Rent Expense Date Debit Account No. 517 Credit Balance Account No. 519 Credit Balance Dec 31, 20X1 Dec 31, 20X1 Salaries Expense Date Debit Dec 31, 20X1 Dec 31, 20x1 UR. DU Debit Account No. 514 Credit Balance Date Dec 31, 20x1 Dec 31, 20X1 preciation Expense- Equipment Date Debit Dec 31, 20x1 Dec 31, 20X1 Credit Bala: Rent Expense Date Debit Dec 31, 20x1 Dec 31, 20X1 Account No. 517 Credit Balance Salaries Expense Date Debit Dec 31, 20X1 Dec 31, 20X1 Account No. 519 Credit Balas Utilities Expense Date Debit Dec 31, 20X1 Dec 31, 20X1 Account No. 523 Credit Balance 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