Closing Entries with Net Income Creative Images Co. offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted at July 31, the end of the fiscal year, the following balances were taken from the ledger of Creative Images Co.: Violet Lozano, Capital Violet Lozano, Drawing Fees Earned Wages Expense Rent Expense Supplies Expense Miscellaneous Expense $850,000 11,000 700,100 479,000 67,000 11,600 14,700 Journalize the two entries required to close the accounts. If an amount box does not require an entry, leave it blank. Jul. 31 Jul. 31