The account balances of Carter Company as of June 30, the end of the current fiscal year, are as follows:

	TRIAL BALANCE
ACCOUNT NAME	DEBIT	CREDIT
Cash	5,110.00
Accounts Receivable	617.00
Supplies	359.00
Prepaid Insurance	1,096.00
Equipment	5,951.00
Accumulated Depreciation, Equipment		1,490.00
Van	9,876.00
Accumulated Depreciation, Van		3,162.00
Accounts Payable		984.00
B. Carter, Capital		17,780.00
B. Carter, Drawing	15,240.00
Fees Earned		35,762.00
Salaries Expense	17,935.00
Advertising Expense	1,759.00
Van Operating Expense	435.00
Utilities Expense	680.00
Miscellaneous Expense	120.00
	59,178.00	59,178.00

Required:

1. Journalize the closing entries with the four steps in the correct sequence. Data for the adjustments are as follows:

1. Expired or used up insurance, $385.
2. Depreciation expense on equipment, $580.
3. Depreciation expense on the van, $1,135.
4. Salary accrued (earned) since the last payday, $540 (owed and to be paid on the next payday).
5. Supplies used during the period, $120.

If an amount box does not require an entry, leave it blank.

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