Question: Required: 1. Journalize the closing entries with the four steps in the correct sequence. Data for the adjustments are as follows: > a. Expired or

Required: 1. Journalize the closing entries with the four steps in the correct sequence. Data for the adjustments are as follows: > a. Expired or used up insurance, $470. b. Depreciation expense on equipment, $948. c. Depreciation expense on the van, $1,490. d. Salary accrued (earned) since the last payday, $574 (owed and to be paid on the next payday). e. Supplies remaining as of June 30, $407. If an amount box does not require an entry, leave it blank. DATE 20-- Jun. 30 Jun. 30 Closing Entries Fees Earned Income Summary Income Summary DESCRIPTION Salaries Expense GENERAL JOURNAL Advertising Expense POST. REF. DEBIT 574 X 16,000 X

1. Journalize the closing entries with the four steps in the correct sequence. Data for the adjustments are as follows: a. Expired or used up insurance, $470. b. Depreciation expense on equipment, $948. c. Depreciation expense on the van, $1,490. d. Salary accrued (earned) since the last payday, $574 (owed and to be paid on the next payday). e. Supplies remaining as of June 30,$407. If an amount box does not require an entry, leave it blank. 1. Journalize the closing entries with the four steps in the correct sequence. Data for the adjustments are as follows: a. Expired or used up insurance, $470. b. Depreciation expense on equipment, $948. c. Depreciation expense on the van, $1,490. d. Salary accrued (earned) since the last payday, $574 (owed and to be paid on the next payday). e. Supplies remaining as of June 30,$407. If an amount box does not require an entry, leave it blank

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