4 On December 31, the Income Summary account of Davison Company has a debit balance of $21000 after revenue of $23,000 and expenses of $44,000 were closed to the account Michelle Davison, Drawing has a debit balance of $2,400 and Michelle Devison, Capital has a credit balance of $42,000 points Record the journal entries necessary to complete closing the accounts. 3 Answer is not complete. No Date General Journal Debit Credit Dec 31, 2016 Michelle Davison, Capital 21,000 21,000 2 Dec 31, 2016 Michelle Davison, Capital 2,400 Michelle Davison, Drawing 2,400 What is the new balance of Michelle Davison, Capita? Answer is complete but not entirely correct