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What is the balance of the salaries expense account

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101Cash$94,400Dr. 111 Accounts Receivable 35,600 Dr. 121 Supplies 8,000 Dr. 131 Prepaid Rent 81,200 Dr. 141 Equipment 128,000 Dr. 142 Accumulated Depreciation-Equip. 4,000 Cr. 202 Accounts Payable 17,000 Cr. 301 Emilio Gonzalez, Capital (12/1/2019) 131,240 Cr. 302 Emilio Gonzalez, Drawing 16,400 Dr. 401 Fees Income 327,200 Cr. 511 Advertising Expense 11,600 Dr. 514 Depreciation Expense-Equip. 2,000 Dr. 517 Rent Expense 9,200 Dr. 519 Salaries Expense 77,600 Dr. 523 Utilities Expense 15,440 Dr.

Required to

Journalese the closing entries in the general journal.

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?

Reference no: EM132379607

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