On December 31, 2013, the Income Statement section of the worksheet for Thomason Company contained the following information. Give the entries that should be made in the general journal to close the revenue, cost of goods sold, expense, and other temporary accounts. Use journal page 16.

Assume further that the owner of the firm is Bobby Thomason and that the Bobby Thomason, Drawing account had a balance of $26,200 on December 31, 2013.

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Debit Credit Income Summary Sales Sales Returns and Allowances Sales Discounts Interest Income Purchases Freight In Purchases Returns and Allowances Purchases Discounts Rent Expense Utilities Expense Telephone Expense Salaries Expense Payroll Taxes Expense Supplies Expense Depreciation Expense Interest Expense Totals $38,600 $41,900 254,500 3,900 2,900 170 134,400 2,200 2,000 1,530 8,500 2,930 1,540 66,100 5,270 1,700 2,500 340 $270,880 $300,100