QUESTION AND INSTRUCTIONS:

Requirement 5. T-accounts have been opened using the balances from the adjusted trial balance. Post the closing entries to the T-accounts. use "Clos_" and the corresponding number as shown in the joumal entry as posting etc. The adjusted balance of each account has been entered for you Post any closing entries to the accounts and then calculate the post-closing balance ("Bal") of each account (including those that were not closed) For any accounts with a zero balance after closing, enter a "0" on the normal side of the account. For Income Summary, calculate and enter the balance ("8aL before posting the entry to close out the account Post the entry to close Income Summary account on the same line as you entered the balance prior to closing (the second line) and then show the post-closing balance ("Bal. 'v) on the last (third) line of the account Review the closing iournal entries yguugpared above. Cash 4,300 Accounts Receivable 5 600 Office Supplies 2,400 Accounts Payable 19 500 B a I Interest Payable 8 200 Bal Salaries Payable Service Revenue 49,400 8 Insurance Expense Salaries Expense 32,400