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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. 101 Cash 111 Accounts Receivable 121
On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: 94,400 Dr. 35,600 Dr. 8,000 Dr. 101 Cash 111 Accounts Receivable 121 Supplies 131 Prepaid Rent 141 Equipment 142 Accumulated Depreciation-Equip 202 Accounts Payable 81,200 Dr. 128,000 Dr 4, 000 Cr 17,000 C 301 Emilio Gonzalez, Capital (12/1/2019) 131,240 Cr 16,400 Dr ored 302 Emilio Gonzalez, Drawing 401 Fees Income 327,200 Cr. 11, 600 Dz 511 Advertising Expense 514 Depreciation Expense-Equip. S17 Rent Expense S19 Salaries Expense S23 Utilities Expense 2,000 D 9,200 Dr 77,600 Dr 15,440 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 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? Comnlete this nuestion bv enterina vour answers in the tahs helow Next >
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