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P4-5A Laura Eddy opened Eddys Carpet Cleaners on March 1.

Total liabilities and owners equity journalize

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Total liabilities and owner's equity $ Journalize adjusting entries. Use page J2 for the journal. General Journal J2 Date Account/Description Debit Credit Mar. 31 (To adjust accounts receivable.) Mar. 31 (To adjust depreciation.) Mar. 31 (To adjust insurance.) Mar. 31 (To adjust cleaning supplies.) Mar. 31 (To adjust salaries.) Journalize the closing entries. Use page J3 for the journal. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.) General Journal J3 Date Description/Account Debit Credit Mar. 31 (To close revenue account.) Mar. 31 (To close expense accounts.) Mar. 31
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(To close net income.) Mar. 31 (To close drawings.) Post the March transactions and adjusting entries using the three-column form of account. Post the closing entries and complete the closing process. (If answer is zero, please enter 0. Do not leave any fields blank.) Cash No. 101 Date Explanation Ref. Debit Credit Balance Mar. 1 J1 1 J1 5 J1 18 J1 20 J1 21 J1 31 J1 31 J1 Accounts Receivable No. 112 Date Explanation Ref. Debit Credit Balance Mar. 14 J1 21 J1 28 J1 31 Adjusting J2 Cleaning Supplies No. 128 Date Explanation Ref. Debit Credit Balance Mar. 3 J1 31 Adjusting J2 Prepaid Insurance No. 130 Date Explanation Ref. Debit Credit Balance Mar. 5 J1 31 Adjusting J2 Equipment No. 157 Date Explanation Ref. Debit Credit Balance Mar. 1 J1 Accumulated Depreciation - Equipment No. 158 Date Explanation Ref. Debit Credit Balance Mar. 31 J2 Accounts Payable No. 201 Date Explanation Ref. Debit Credit Balance Mar. 1 J1 3 J1 18 J1 Salaries Payable No. 212
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Date Explanation Ref. Debit Credit Balance Mar. 31 Adjusting J2 L. Eddy, Capital No. 301 Date Explanation Ref. Debit Credit Balance Mar. 1 J1 31 Closing J3 31 Closing J3 L. Eddy, Drawing No. 306 Date
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