Set up T accounts for Case Advising based on the work sheet in Exercise 6-1A and the chart of accounts provided below. Enter the existing balance for each account. Prepare closing entries in general journal form. Then post the closing entries to the Taccounts.

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Chart of Accounts Revenues Assets 101 Cash 401 Advising Fees 122 Accounts Receivable Expenses 511 141 Supplies Prepaid Insurance Office Equipment Accum. Depr.-Office Equip. 145 Wages Expense Advertising Expense Rent Expense Supplies Expense Telephone Expense Electricity Expense Insurance Expense Gas and Oil Expense Depr. Exp.-Office Equip. Miscellaneous Expense 181 512 181.1 521 524 Liabilities 525 Accounts Payable Wages Payable 202 533 219 535 538 541 Owner's Equity 311 549 Bill Case, Capital Bill Case, Drawing Income Summary 312 313