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The end of the period account balances after adjustments of Luisa Records are as follows: Cash 58,000 Supplies 3,500 Prepaid rent 6,600 Equipment 87,500 Accumulated

The end of the period account balances after adjustments of Luisa Records are as follows:

Cash 58,000

Supplies 3,500

Prepaid rent 6,600

Equipment 87,500

Accumulated depreciation Equipment 45,000

Accounts payable 11,500

Owners capital 76,400

Owners drawing 9,000

Service revenues 330,000

Supplies expense 25,000

Depreciation expense 31,000

Rent expense 110,100

Salaries and wages expense 98,200

Utilities expense 45,000

Prepare the end of the period closing entries for Luisa records. Post the entries into the following accounts 1) service revenues 2) expenses 3) income summary 4) owners drawings

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