Que. # 2. a. Why the closing journal entries are recorded? (1X1)=1 b. The following accounts and their related balances appear in the ledger of Lewiston Company as of December 31, 20X8. (4+1)=5 Cash $181,500 Salaries Expenses Building 232,550 Operating Expenses Accumulated Depreciation 150,000 Salaries Payable Inventory 192.950 Sales Revenue Supplies 7,100 Cost of Goods Sold Owner's Capital 250,000 Accounts Payable Owner's Drawing 50,000 Depreciation Expenses Write down the necessary closing journal entries. b. How much is the amount of ending balance of capital? 72,500 108,200 3,100 980,200 698.500 17,500 50,000 a