Post all adjusting entries to the t-accounts and calculate ending balances. Post the transactions in the order they appear in the journal entries. DateAccounts and ExplanationDebitCredit Dec. 31Salaries Expense2,200 Salaries Payable 2,200 DateAccounts and ExplanationDebitCredit Dec. 31Depreciation Expense - Furniture100 Accumulated Depreciation - Furniture 100 DateAccounts and ExplanationDebitCredit Dec. 31Insurance Expense425 Prepaid Insurance 425 DateAccounts and ExplanationDebitCredit Dec. 31Supplies Expense130 Office Supplies 130 DateAccounts and ExplanationDebitCredit Dec. 31Unearned Revenue300 Service Revenue 300 DateAccounts and ExplanationDebitCredit Dec. 31Accounts Receivable1,700 Service Revenue 1,700 Accounts Receivable Bal. 800 Accumulated Depreciation - Furniture 0 Bal. Depreciation Expense - Furniture

P11.2a (lo 2, 4) fechter corporation had the following stockholders’ equity accounts on january 1, 2020: common stock ($5 par) $500,000, paid-in capital in excess of par—common stock $200,000, and retained earnings $100,000. in 2020, the company had the following treasury stock transactions. journalize and post treasury stock transactions, and prepare stockholders’ equity section. mar. 1 purchased 5,000 shares at $8 per share. june 1 sold 1,000 shares at $12 per share. sept. 1 sold 2,000 shares at $10 per share. dec. 1 sold 1,000 shares at $7 per share. fechter corporation uses the cost method of accounting for treasury stock. in 2020, the company reported net income of $30,000. instructions a. journalize the treasury stock transactions, and prepare the closing entry at december 31, 2020, for net income. b. open accounts for (1) paid-in capital from treasury stock, (2) treasury stock, and (3) retained earnings. (post to t-accounts.) c. prepare the stockholders’ equity section for fechter corporation at december 31, 2020.