Problem 6.3A (Algo) Journalizing and posting closing entries. LO 6-1

s Problem 6.3A (Algo) Journalizing and posting closing entries. LO 6-1 On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: 101 Cash $ 42,200 Dr. 111 Accounts receivable 17,300 Dr. 3,500 Dr. 121 Supplies 131 Prepaid Rent 40,100 Dr. 141 Equipment 59,000 Dr. 142 Accumulated depreciation-Equip. 1,750 Cr.. 202 Accounts payable 8,000 Cr. 301 Emilio Gonzalez, Capital (12/1/20X1) 60,620 Cr. 302 Emilio Gonzalez, Drawing 7,700 Dr. 401 Fees income 150,800 Cr. 5,300 Dr. 511 Advertising expense 514 Depreciation expense-Equip. 950 Dr. 4,100 Dr. 517 Rent expense 519 Salaries expense 33,800 Dr. 7,220 Dr. 523 Utilities expense Required: 1. Journalize the closing entries in the general journal. 2. Post the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances. Analyze: What is the balance of the Salaries Expense account after closing entries are posted? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Analyze Journalize the closing entries in the general journal. View transaction list Journal entry worksheet