Michael's Tennis reported the following selected accounts in its June 30, 2013, annual financial statements. Prepare the company's closing entries. Include explanations.

Prepare a T-account for Michael Lucas, Capital. What is the ending Capital balance at June 30, 2013?

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Michael Lucas, Capital Service Revenue . $118,400 Interest Expense.. 356,400 Accounts Receivable. 5,400 Salaries Payable.. 170,000 Amortization Expense. 140,000 Rent Expense. 11,800 Michael Lucas, Withdrawals. 5,800 Supplies. $ 8,800 56,000 3,400 40,800 23,600 90,000 5,600 Unearned Revenues. Salaries Expense. Accumulated Amortization.. Supplies Expense.. Interest Revenue..