Set up T accounts for Major 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.

Chart of Accounts Revenucs 401 Advising Fces Assets 101 Cash 122 Accounts Reccivable 141 Supplics 145 Prepaid Insurance 181 Office Equipment 181.1 Accum. Depr-Office Equip Expenses 511 Wages Expense 512 Advertising Expense 521 Rent Expensc 524 Supplies Expense 525 Telephone Expense 533 Electricity Expense 535 Insurance Expense 538 Gas and Oil Expense 541 Dept Exp. Office Equip. 549 Miscellancous Expense Liabilitics 202 Accounts Payable 219 Wages Payable Owner's Equity 311 Ed Major Capital 312 Ed Major Drawing 313 Income Summary