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THANKS, I VOTE On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: 101 Cash 111 Accounts receivable 121 Supplies 131 Prepaid

THANKS, I VOTE
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On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: 101 Cash 111 Accounts receivable 121 Supplies 131 Prepaid Rent 141 Equipment 142 Accumulated depreciation-Equip. 202 Accounts payable 301 Emilio Gonzalez, Capital (1271/20X1) 302 Emilio Gonzalez, Drawing 401 Yees Income 511 Advertising expense 514 Depreciation expense-Equip. 517 Rent expense 519 Salaries expense 523 Utilities expense $ 44,200 Dr. 17,500 Dr. 3,700 Dr. 40.300 Dr. 61,000 Dr. 1,850 Cr. 8,200 CE. 62,620 Cr. 7.900 Dr. 155,920 dr. 5,500 Dr. 970 DE 4,300 Dr. 35,800 Dr. 7, 420 Dr. Required: 1. Journalize the closing entries in the general journal. 2. Post the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances. Analyze: What is the balance of the Salaries Expense account after closing entries are posted? Complete this question by entering your answers in the tabs below. 3 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Analyze 24.50 Journalize the closing entries in the general journal. View transaction list X 1 Record the closing entry for revenue. 2 Record the closing entry for expenses. Record the closing entry for the balance of income summary. 4 Record the closing entry for the drawing account Credit ener roger account. Hinti Be sure to enter beginning balances 3 Account No. 301 Credit Bwance Account Credit lance Emina Gonzales, Capital Debat Dec 31, 20x1 Dec 31, 20x1 Dec 31, 20x1 Emilio Conale Drawing Do Dec 31, 20x1 Dec 31, 20X1 040 Account No 309 Credit Elalanta ACO No 401 Cro Balance Income Summary Date Debit Dec 31, 20x1 Dec 31, 20x3 Dec 31, 2001 Free Incom Date Debit Dec 31, 2001 Dec 31, 2001 Account No. 514 Account No. 511 Credit Balance Depreciation Experte Equipment Date De Dec 31, 20X1 Dec 31, 20x1 Crean Advertising Expense Data Debat Dec 31, 20x1 Dec 31, 20X1 Dames Account No: 557 Credit Account No. 519 Credit Balance Rent Expense Debil Dec 31, 20X1 Dec 31, 20X1 Salaries Expand Deba Dec 31, 2001 Dec 31, 201 Account No. 23 Credit Balance Uutis Epene Dale Detin Dec 31, 20xt YE Analyze: What is the balance of the Salaries Expense account after closing entries are posted? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Analyze What is the balance of the Salaries Expense account after closing entries are posted? Salaries expanse

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