Required: 1. Journalize (page 10) and post the adjusting entries. 2. Journalize (page 11) and post the closing entries. 20-- DATE Jan. 31 GENERAL JOURNAL DESCRIPTION POST. REF. DEBIT Adjusting Entries Supplies used Jan. 31 Insurance used Jan. 31 Wages accrued Jan. 31 Depreciation PAGE 10 CREDIT GENERAL JOURNAL DATE DESCRIPTION Closing Entries 20-- Jan. 31 Jan. 31 Jan. 31 Jan. 31 PAGE 11 POST. REF. DEBIT CREDIT ACCOUNT GENERAL LEDGER Cash ACCOUNT NO. 101 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jan. 31 ACCOUNT 20-- Jan. 31 DATE Balance ITEM 3,673.00 Accounts Receivable ACCOUNT NO. 122 BALANCE POST. REF. DEBIT CREDIT DEBIT CREDIT Balance V 1,450.00 ACCOUNT GENERAL LEDGER Cash ACCOUNT NO. 101 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jan. 31 20-- ACCOUNT Jan. 31 Balance DATE ITEM ACCOUNT Balance DATE ITEM 20-- Jan. 31 Balance Jan. 31 ACCOUNT DATE ITEM 20-- Jan. 31 Balance Jan. 31 ACCOUNT 20-- Jan. 31 DATE ITEM ACCOUNT Balance 3,673.00 Accounts Receivable ACCOUNT NO. 122 BALANCE POST. REF. DEBIT CREDIT DEBIT CREDIT 1,450.00 Supplies ACCOUNT NO. 141 BALANCE POST. REF. DEBIT CREDIT DEBIT CREDIT 700.00 Prepaid Insurance ACCOUNT NO. 145 BALANCE POST. REF. DEBIT CREDIT DEBIT CREDIT 900.00 Delivery Equipment ACCOUNT NO. 185 BALANCE POST. REF. DEBIT CREDIT DEBIT CREDIT Accumulated Depreciation-Delivery Equipment DATE ITEM 20-- Jan. 31 POST. REF. 3,200.00 ACCOUNT NO. 185.1 BALANCE DEBIT CREDIT DEBIT CREDIT ACCOUNT Accounts Payable ACCOUNT NO. 202 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jan. 31 ACCOUNT Balance DATE ITEM 20-- Jan. 31 ACCOUNT DATE ITEM 20-- Jan. 31 Balance Jan. 31 Jan. 31 ACCOUNT 1,200 Wages Payable ACCOUNT NO. 219 BALANCE POST. REF. DEBIT CREDIT DEBIT CREDIT Don Megaffin, Capital ACCOUNT NO. 311 BALANCE POST. REF. DEBIT CREDIT DEBIT CREDIT 8,000.00 Don Megaffin, Drawing ACCOUNT NO. 312 BALANCE POST. REF. DEBIT CREDIT DEBIT CREDIT DATE ITEM 20-- Jan. 31 Balance V Jan. 31 ACCOUNT DATE ITEM 20-- Jan. 31 Jan. 31 Jan. 31 1,100.00 Income Summary ACCOUNT NO. 313 BALANCE POST. REF. DEBIT CREDIT DEBIT CREDIT ACCOUNT DATE ITEM 20-- Jan. 31 Balance Jan. 31 ACCOUNT Repair Fees ACCOUNT NO. 401 BALANCE POST. REF. DEBIT CREDIT DEBIT CREDIT 4,700.00 Wages Expense ACCOUNT NO. 511 BALANCE POST. REF. DEBIT CREDIT DEBIT CREDIT DATE ITEM 20-- Jan. 31 Balance V Jan. 31 Jan. 31 ACCOUNT 1,750.00 Advertising Expense ACCOUNT NO. 512 BALANCE POST. REF. DEBIT CREDIT DEBIT CREDIT DATE ITEM 20-- Jan. 31 Balance V Jan. 31 ACCOUNT DATE ITEM | 20- Jan. 31 Balance Jan. 31 ACCOUNT DATE ITEM 20-- Jan. 31 Jan. 31 200.00 Rent Expense ACCOUNT NO. 521 BALANCE POST. REF. DEBIT CREDIT DEBIT CREDIT 640.00 Supplies Expense ACCOUNT NO. 523 BALANCE POST. REF. DEBIT CREDIT DEBIT CREDIT ACCOUNT DATE ITEM 20-- Jan. 31 Balance Jan. 31 ACCOUNT DATE ITEM 20-- Jan. 31 Jan. 31 ACCOUNT DATE ITEM 20-- Jan. 31 Balance Jan. 31 ACCOUNT Phone Expense ACCOUNT NO. 525 BALANCE POST. REF. DEBIT CREDIT DEBIT CREDIT 50.00 Insurance Expense ACCOUNT NO. 535 BALANCE POST. REF. DEBIT CREDIT DEBIT CREDIT Gas and Oil Expense ACCOUNT NO. 538 BALANCE POST. REF. DEBIT CREDIT DEBIT CREDIT Depreciation Expense-Delivery Equipment DATE ITEM 20-- Jan. 31 Jan. 31 ACCOUNT DATE ITEM 20-- Jan. 31 Balance Jan. 31 POST. REF. 200.00 ACCOUNT NO. 541 BALANCE DEBIT CREDIT DEBIT CREDIT Miscellaneous Expense ACCOUNT NO. 549 BALANCE POST. REF. DEBIT CREDIT DEBIT CREDIT 37.00 3. Prepare a post-closing trial balance. Account Megaffin's Repairs Post-Closing Trial Balance January 31, 20-- Acct. No. Debit Balance Credit Balance Cash 101 Accounts Receivable 122 Supplies 141 Prepaid Insurance 145 Delivery Equipment 185 Accumulated Depreciation-Delivery Equipment 185.1 Accounts Payable 202 Wages Payable 219 Don Megaffin, Capital 311 Closing Entries and Post-Closing Trial Balance A work sheet for Megaffin's Repairs for the month ended January 31, 20-- is shown. Megaffin's Repairs Work Sheet For Month Ended January 31, 20-- Trial Balance Adjustments Account Title Debit Credit Debit Credit Adjusted Trial Balance Debit Income Statement Balance Sheet Credit Debit Credit Debit Credit Cash Accounts Receivable Supplies Prepaid Insurance 3,673.00 3,673.00 3,673.00 1,450.00 1,450.00 1,450.00 700.00 300.00 400.00 900.00 230.00 Delivery Equipment Accumulated Depreciation-Delivery Equipment 3,200.00 670.00 3,200.00 55.00 55.00 400.00 670.00 3,200.00 55.00 Accounts Payable Wages Payable 1,200.00 1,200.00 1,200.00 400.00 400.00 400.00 Don Megaffin, Capital 8,000.00 8,000.00 8,000.00 Don Megaffin, Drawing 1,100.00 1,100.00 1,100.00 Repair Fees 4,700.00 4,700.00 4,700.00 Wages Expense 1,750.00 400.00 2,150.00 2,150.00 Advertising Expense 200.00 200.00 200.00 Rent Expense 640.00 640.00 640.00 Supplies Expense 300.00 300.00 300.00 Phone Expense 50.00 50.00 50.00 Insurance Expense 230.00 230.00 230.00 Gas and Oil Expense 200.00 200.00 200.00 Depreciation Expense-Delivery Equipment 55.00 55.00 55.00 Miscellaneous Expense 37.00 37.00 37.00 13,900.00 13,900.00 985.00 985.00 14,355.00 14,355.00 3,862.00 4,700.00 10,493.00 9,655.00 Net Income 838.00 838.00 4,700.00 4,700.00 10,493.00 10,493.00