Do journal and ledger records of Chip Company.

2) Closing Process Example: (40 points)

Lemon Company has a 53,000 credit balance in Service Revenue account, 11,000 debit balance in Rent Expense account, 3,000 debit in Utilities Expense, 25,000 debit balance in Salaries Expense account, and 6,000 debit balance in dividends account.

Please do journal and ledger closing records of Lemon Company.