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.: $860,000 Violet Lozano, Capital Violet Lozano, Drawing 17,000 Fees Earned 715,800 Wages Expense 490,000 Rent Expense 72,000 Supplies Expense Miscellaneous Expense 11,800 14,400 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