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 journal entry as posting

references"Clos.(1)",

"Clos.(2)", 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 ("Bal.") 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.") on the last (third) line of the account.

Review the closing journal entries you prepared above.

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Cash

Accounts Payable

Service Revenue

Bal.

4,600

18,700

Bal.

48,100

Bal.

Accounts Receivable

Interest Payable

Insurance Expense

Bal.

5,300

8,500

Bal.

Bal.

4,400

Office Supplies

Salaries Payable

Salaries Expense

Bal.

1,500

2,400

Bal.

Bal.

33,500

Prepaid Insurance

Unearned Revenue

Supplies Expense

Bal.

1,700

7,600

Bal.

Bal.

300

Land

Notes Payable

Interest Expense

Bal.

13,000

40,000

Bal.

Bal.

8,500

Building

Erickson, Capital

Utilities Expense

Bal.

82,000

42,500

Bal.

Bal.

2,700

Accumulated Depr.Building

Erickson, Withdrawals

Depreciation ExpenseBuilding

25,200

Bal.

Bal.

27,300

Bal.

8,200

Income Summary

Data table Reference Data table Data table tion 2 tion 3 e solve this