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On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances:

101	Cash	$	28,200	Dr.
111	Accounts Receivable		15,900	Dr.
121	Supplies		2,100	Dr.
131	Prepaid Rent		38,700	Dr.
141	Equipment		45,000	Dr.
142	Accumulated DepreciationEquip.		1,050	Cr.
202	Accounts Payable		6,600	Cr.
301	Emilio Gonzalez, Capital (12/1/2019)		46,620	Cr.
302	Emilio Gonzalez, Drawing		6,300	Dr.
401	Fees Income		114,960	Cr.
511	Advertising Expense		3,900	Dr.
514	Depreciation ExpenseEquip.		810	Dr.
517	Rent Expense		2,700	Dr.
519	Salaries Expense		19,800	Dr.
523	Utilities Expense		5,820	Dr.
Required: Journalize 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? Journal entry worksheet Record the closing entry for revenue. Note: Enter debits before credits. Journalize the closing entries in the general journal. Date General Journal Debit Credit Dec 31, 2019

Post the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances.

Emilio Gonzalez, Capital Account No. 301 Emilio Gonzalez, Drawing Account No. 302 Date Debit Credit Balance Date Debit Credit Balance Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Income Summary Account No. 399 Fees Income Account No. 401 Date Debit Credit Balance Date Debit Credit Balance Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Advertising Expense Account No. 511 Depreciation ExpenseEquipment Account No. 514 Date Debit Credit Balance Date Debit Credit Balance Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Rent Expense Account No. 517 Salaries Expense Account No. 519 Date Debit Credit Balance Date Debit Credit Balance Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Utilities Expense Account No. 523 Date Debit Credit Balance Dec 31, 2019 Dec 31, 2019

Required 1

What is the balance of the salaries expense account after closing entries are posted?

	Salaries expense

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