Prepare a Closing journal entry and a reversing journal.

Question I Not complete Marked out of 3.00 V Flag question Selected transactions for In Vogue Designs, an interior decorator, in its first month of business are as follows 1. Owner contributed $9,380 in cash to commence the business. Purchased computer equipment for $4,560 cash for use in the 2. business. 3. Purchased supplies, payable in 30 days on account for $490. 4. Invoiced customers $1,943 for services performed. 5. Paid $216 cash for advertising start of the business. 6. Received $656 cash from customers invoiced in transaction (4). 7. Paid creditor $330 cash on account. 8. Paid drawings of $418 cash to owner. Details Bank Accounts Receivable Supplies on Hand Computer Equipment Accounts Payable Capital Drawings Service Fees Revenue Advertising In Vogue Designs Trial Balance as at 30 June 2023 Debit 4,512 1,287 490 4,560 418 216 11,483 Credit 160 9,380 1,943 11,483