CENGAGE |MINDTAP Q Search th Mastery Problem 8-M (Static) Back to Assignment Attempts Score / 10 1. 8-M MASTERY PROBLEM (LO1, 2), p. 234 (STATIC) 1. Journalize Closing 2. Post Closing 3. Post-Closing 4. Post-Closing Trial Entries Entries Accounts Balance STEP: 2 of 4 Post the closing entries. The general ledger accounts do not show all details for the period. The balance shown in each account is the balance after adjusting entries are posted. PAGE 10 JOURNAL DATE ACCOUNT TITLE DOC. NO. POST. REF. GENERAL DEBIT CREDIT SALES CREDIT CASH DEBIT CREDIT Adjusting Entries 2 May 31 Supplies Expense $50 700.00 Supplies 140 700.00 U A W N H 31 Insurance Expense 530 175.00 Prepaid Insurance 150 175.00 Closing Entries 31 Sales 1,790.00 Incama Command Jon nn Insurance Expense 175.00 Miscellaneous Expense 40.00 Supplies Expense 700.00 Utilities Expense 820.00 31 Rhonda Rausch, Capital 172.00 Income Summary 172.00 31 Rhonda Rausch, Capital $00.00 annan GENERAL LEDGER Account: Cash Account No. 110 Account: Petty Cash Account No. 120 Account: Accounts Receivable-M. Monesrud Account No. 130 Account: Supplies Account No. 140 Account: Prepaid Insurance Account No. 150 Account: Accounts Payable-Lexington Supply Account No. 210 Account: Rhonda Rausch, Capital Account No. 310 Account: Rhonda Rausch, Drawing Account No. 320 Account: Income Summary Account No. 330 Account: Sales Account No. 410 Account: Advertising Expense Account No. 510 Account: Cash Short and Over Account No. 520 Account: Insurance Expense Account No. 530 Account: Miscellaneous Expense Account No. 540 Account: Supplies Expense Account No. 550 Account: Utilities Expense Account No. 560