Closing Entries (Net Income) Use the following partial listing of T accounts to complete this exercise. Cash 101 Bal. 500 Accounts Receivable 122 Bal. 1,500 Wages Payable 219 Bal. 400

Closing Entries (Net Income) Use the following partial listing of T accounts to complete this exercise. Cash 101 Bal. 500 Accounts Receivable 122 Bal. 1,500 Wages Payable 219 Bal. 400 Javian Davis, Capital 311 Bal. 9,000 Javian Davis, Drawing 312 Bal. 1,000 Income Summary 313 Tennis Instruction Fees 401 Bal. 4,000 Wages Expense 511 Bal. 820 Advertising Expense 512 Bal. 200 Travel Expense 515 Bal. 600 Supplies Expense 524 Bal. 500 Insurance Expense 535 Bal. 100 Postage Expense 536 Bal. 50 Gas and Oil Expense 538 Bal. 150 Miscellaneous Expense 549 Bal. 80 Required: 1. Prepare closing entries in general journal form dated April 30, 20–. Then post the closing entries to the T accounts.

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