The account balances of Francis Company as of June 30, the end of the current fiscal yea TRIAL BALANCE ACCOUNT NAME DEBIT CREDIT Cash 5.776.00 Accounts Receivable 833.00 Supplies 575.00 Prepaid Insurance 1,348.00 7,526.00 Equipment Accumulated Depreciation, Equipment 2,876.00 > Van 10,542.00 Accumulated Depreciation, Van 3,288.00 Accounts Payable 1,605.00 B. Francis, Capital 19,994.00 B. Francis, Drawing 15,960.00 Fees Earned 37,400.00 Salaries Expense 18,340.00 Advertising Expense 2,164.00 Van Operating Expense 840.00 Utilities Expense 1,085.00 174.00 Miscellaneous Expense 65,163.00 65,163.00 Required: 1. Journalize the closing entries with the four steps in the correct sequence. Data for the adjustments are as follows: a. Expired or used up insurance, $565. b. Depreciation expense on equipment, $760. Depreciation expense on the van, $1,270. d. Salary accrued (earned) since the last payday, $675 (owed and to be paid on the next payday). Depreciation expense on coment. 1760 c Depreciation expense on the van, 51,270. . Salary accrued earned since the last payday, 5675 (wed and to be paid the Supplies used during the period. 5255 If an amount box does not require an entry, leave it blank GENERAL JOURNAL DATE DESCRIPTION POST. REF DEBIT Closing Entries Lp 0 > Jun 30 III Jun 30 Jun 30 2. Assume that after completing the statement of owner's equity the amount for B. Francis, Capital, lune 30, Beamed the last payday 1675 (owed and to be paid on the next payday) during the period, 5255 does not require an entry leave it blank PAGE GENERAL JOURNAL DESCRIPTION POST. REF. DEBIT CREDIT IL fter completing the statement of owner's equity the amount for B. Francis, Capital, June 30, Jun 30 Jun 30 2. Assume that after completing the statement of owner's equity the amount for B. Francis, Capital, June 30, 20- is $15,306. Prepare a balance sheet. Francis Company Balance Sheet June 30, 20- Assets $ Total Assets Liabilities $ Total Liabilities Owner's Equity Total Liabilities and Owner's Equity