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Problem 6.2A (Algo) Journalizing and posting adjusting and closing entries and preparing a postclosing trial balance. LO 6-1, 6-2 A completed worksheet for The King Group is given below. Required: 1. Record the adjusting entries in the general journal (transactions 1-3). 2. Record the closing entries in the general journal (transactions 4-7). 3. Post the adjusting entries and the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances. 4. Prepare a postclosing trial balance. Record the adjusting entries and the closing entries in the qeneral journal. \begin{tabular}{l|r|r|r|} \hline \multicolumn{2}{|c|}{ Income Summary } & \multicolumn{2}{c|}{ Account Number 309 } \\ \hline \multicolumn{1}{|c|}{ Date } & \multicolumn{1}{c|}{ Debit } & \multicolumn{1}{c|}{ Credit } & \multicolumn{1}{c|}{ Balance } \\ \hline \begin{tabular}{l} December 31, \\ 20X1 \end{tabular} & & 171,300 & 171,300 \\ \hline \begin{tabular}{l} December 31, \\ 20X1 \end{tabular} & $ & 72,150 & 243,450 \\ \hline \begin{tabular}{l} December 31, \\ 20X1 \end{tabular} & 23,550 & & 219,900 \\ \hline \end{tabular} \begin{tabular}{l|c|c|c|} \hline \multicolumn{2}{|c|}{ Salaries Expense } & \multicolumn{2}{c|}{ Account Number 511 } \\ \hline \multicolumn{1}{|c|}{ Date } & Debit & \multicolumn{1}{c|}{ Credit } & \multicolumn{1}{c|}{ Balance } \\ \hline \begin{tabular}{l} December 31, \\ 20X1 \end{tabular} & & & 14,300 \\ \hline \begin{tabular}{l} December 31, \\ 20X1 \end{tabular} & & 14,300 & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{2}{|c|}{ Supplies Expense } & \multicolumn{2}{|c|}{ Account Number 517} \\ \hline Date & Debit & Credit & Balance \\ \hline \begin{tabular}{l} December 31 , \\ 201 \end{tabular} & & & \\ \hline \begin{tabular}{l} December 31 , \\ 201 \end{tabular} & 14,300x & & 14,300 \\ \hline \end{tabular} \begin{tabular}{l|r|r|r|} \hline \multicolumn{2}{|c|}{ Advertising Expense } & \multicolumn{2}{c|}{ Account Number 526 } \\ \hline \multicolumn{1}{|c|}{ Date } & \multicolumn{1}{c|}{ Debit } & \multicolumn{1}{c|}{ Credit } & \multicolumn{1}{c|}{ Balance } \\ \hline \begin{tabular}{l} December 31, \\ 20X1 \end{tabular} & 5,800 & & 5,800 \\ \hline \begin{tabular}{l} December 31, \\ 20X1 \end{tabular} & & 2,300 & 3,500 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{2}{|c|}{ Delva King, Capital } & \multicolumn{2}{|c|}{ Account Number 301} \\ \hline Date & Debit & Credit & Balance \\ \hline \begin{tabular}{l} December 31 , \\ 201 \end{tabular} & & & 107,450x \\ \hline \begin{tabular}{l} December 31 , \\ 201 \end{tabular} & & 107,450x & 214,900 \\ \hline \begin{tabular}{l} December 31 , \\ 201 \end{tabular} & 8,300 & & 206,600 \\ \hline \end{tabular}
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