After the accounts have been adjusted at December 31, the end of the fiscal year, the following balances were taken from the ledger of Pioneer Delivery Services Co.:

Kerry Buckner, Capital	$3,513,000
Kerry Buckner, Drawing	42,500
Fees Earned	1,324,000
Wages Expense	749,100
Rent Expense	68,800
Supplies Expense	14,600
Miscellaneous Expense	7,350

Journalize the two entries required to close the accounts. Refer to the Chart of Accounts for exact wording of account titles.

Journal Journalize the two entries required to close the accounts. Refer to the Chart of Accounts for exact wording of account titles. PAGE 11 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT Closing Entries Fees Earned 1,324,000.00 ncome Summary 1,324,000.00 Wages Expense Rent Expense Supplies Expense Miscellaneous Expense ncome Summary 749,100.00