Use the following partial listing of T accounts to do this exercise.

1.Prepare closing entries dated April 30, 20--. Do not enter the posting references until you complete part 2. If an amount box does not require an entry, leave it blank.

2.Post the closing entries to the T accounts following the top-down journal entry order. If there is more than one closing entry for an account, enter in the order given in the journal above. Then, complete the posting for part 1.

Closing Entries (Net Income)

Cash101Bal.500

Accounts Receivable122Bal.1,500

Wages Payable219Bal.400

Javian Davis, Capital311Bal.9,000

Javian Davis, Drawing312Bal.1,000

Income Summary313

Tennis Instruction Fees401Bal.4,000

Wages Expense511Bal.840

Advertising Expense512Bal.200

Travel Expense515Bal.600

Supplies Expense524Bal.500

Insurance Expense535Bal.100

Postage Expense536Bal.50

Gas and Oil Expense538Bal.150

Miscellaneous Expense549Bal.80