. Closing Entries

Please prepare closing entries for Revenue, Expenses, Income Summary, and Owner Withdrawals accounts.

K. Ferman, Capital .......................................................		40,400
K. Ferman, Withdrawals ..............................................	15,000
Delivery Revenue ....................................................		145,000
Rent expense ................................................................	8,000
Wages expense.............................................................	62,000
Supplies expense...........................................................	2,500
Depreciation expense-Delivery equipment .................	4,050
Interest expense............................................................	1,000
Utilities expense...........................................................	3,750

[Hint: Four steps for closing process.