Post the closing entries to the ledger.

Retained Earnings
		Bal.	151,000
Close		Close
Bal.Close		Bal.Close
Sales Revenue
Adj.	9,550	Bal.	412,500
Bal.Close		Bal.Close
Total		Total
Rent Revenue
Bal.Close		Bal.	44,880
Bal.Close		Adj.	4,080
Total		Total
Bad Debts Expense
Adj.	3,750	Bal.Close
Total		Total
Utilities Expense
Bal.	74,600	Bal.Close
Total		Total
Repairs and Maintenance Expense
Bal.	53,000	Bal.Close
Total		Total
Insurance Expense
Adj.	5,300	Bal.Close
Total		Total
Salaries and Wages Expense
Bal.	89,300	Bal.Close
Adj.	3,730	Bal.Close
Total		Total
Depreciation Expense
Adj.	19,400	Bal.Close
Adj.	19,150	Bal.Close
Total		Total
Income Summary
Bal.CloseExpensesRevenues		Bal.CloseExpensesRevenues
Bal.CloseExpensesRevenues		Bal.CloseExpensesRevenues
Total		Total

Credit Debit $422,050 $ 48,960 $471,010 $ 268,230 Closing Entries Account Titles and Explanation Sales Revenue Rent Revenue Income Summery (To close Revenue accounts) Income Summery Bad Debt Expense Utilities Expense Repairs and Maintenance Expense Insurance Expense Salaries and Wages Expense Depreciation Expense (To close expense accounts) Income Summery Retained Earnings (To close income summry account) $ 3,750 $ 74,600 $ 53,000 $ 5,300 $ 93,030 $ 38,550 $ 202,780 $ 202,780