The ledger accounts of AXX Internet Company appear as follows on March 31, 2019:

ACCOUNT NO.	ACCOUNT	BALANCE
101	Cash	$	62,000
111	Accounts Receivable		35,560
121	Supplies		8,800
131	Prepaid Insurance		23,200
141	Equipment		100,000
142	Accumulated DepreciationEquipment		39,520
202	Accounts Payable		11,200
301	Aretha Hinkle, Capital		112,000
302	Aretha Hinkle, Drawing		11,200
401	Fees Income		302,600
510	Depreciation ExpenseEquipment		19,360
511	Insurance Expense		9,600
514	Rent Expense		31,200
517	Salaries Expense		148,000
518	Supplies Expense		3,800
519	Telephone Expense		5,000
523	Utilities Expense		7,600

All accounts have normal balances. Required:

1. Prepare the closing entries.
2. Post the transactions in to the appropriate ledger accounts. Hint: Be sure to enter beginning balances.

• General Journal
• Ledgers

Post the transactions in to the appropriate ledger accounts. Hint: Be sure to enter beginning balances.

Aretha Hinkle, Capital		Account No. 301			Aretha Hinkle, Drawing		Account No. 302
Date	Debit	Credit	Balance		Date	Debit	Credit	Balance
Mar 31, 2019
Mar 31, 2019					Mar 31, 2019
Mar 31, 2019
Income Summary		Account No. 399			Fees Income		Account No. 401
Date	Debit	Credit	Balance		Date	Debit	Credit	Balance
Mar 31, 2019					Mar 31, 2019
Mar 31, 2019					Mar 31, 2019
Mar 31, 2019
Depreciation ExpenseEquipment		Account No. 510			Insurance Expense		Account No. 511
Date	Debit	Credit	Balance		Date	Debit	Credit	Balance
Mar 31, 2019					Mar 31, 2019
Mar 31, 2019					Mar 31, 2019
Rent Expense		Account No. 514			Salaries Expense		Account No. 517
Date	Debit	Credit	Balance		Date	Debit	Credit	Balance
Mar 31, 2019					Mar 31, 2019
Mar 31, 2019					Mar 31, 2019
Supplies Expense		Account No. 518			Telephone Expense		Account No. 519
Date	Debit	Credit	Balance		Date	Debit	Credit	Balance
Mar 31, 2019					Mar 31, 2019
Mar 31, 2019					Mar 31, 2019
Utilities Expense		Account No. 523
Date	Debit	Credit	Balance
Mar 31, 2019
Mar 31, 2019