The following accounts appear in the ledger of Celso and Company as of June 30, the end of this fiscal year. Cash $15,349 Accounts Receivable 13,810 Merchandise Inventory 50,280 Store Supplies 1,935 Prepaid Insurance 1,385 Store Equipment 18,640 Accumulated Depreciation, Store Equipment 6,882 Accounts Payable 10,065 B. E. Celso, Capital 96,524 B. E. Celso, Drawing 30,000 Sales 208,030 Sales Returns and Allowances 1,740 Purchases 133,050 Purchases Returns and Allowances 4,295 Purchases Discounts 3,853 Freight In 8,350 Wages Expense 35,400 Advertising Expense 7,710 Rent Expense 12,000 The data needed for the adjustments on June 30 are as follows: a-b. Merchandise inventory, June 30, $54,600. c. Insurance expired for the year, $475. d. Depreciation for the year, $4,380. e. Accrued wages on June 30, $1,492. f. Supplies on hand at the end of the year, $100. Required: Journalize the adjusting entries. DATE June 30 30 1 20-- 2 3 4 5 6 DESCRIPTION Adjusting Entries GENERAL JOURNAL POST. REF. DEBIT Page CREDIT 1 2 3 4 5 6 7 8 30 9 10 11 30 12 13 14 30 15 16 17 30 18 19 Journalize the closing entries. If an amount box does not require an entry, leave it blank. GENERAL JOURNAL DATE DESCRIPTION Closing Entries June 30 1 20-- 2 POST. REF. DEBIT Page CREDIT 7 8 9 10 11 12 13 14 15 16 17 18 19 1 2 1 20-- 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 DATE June 30 30 30 DESCRIPTION Closing Entries POST. REF. DEBIT CREDIT 1 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 18 30 19 20 21 30 22 23 24 Journalize the reversing entry as of July 1, for the wages that were accrued in the June adjusting entry. GENERAL JOURNAL POST. DATE DESCRIPTION REF. Reversing Entry 1 20-- 2 3 July 1 DEBIT CREDIT 18 19 20 21 22 23 24 Page 1 2 3