Closing Entry: 1.This is the first accounting period for Lo Lo Lawrence Landscaping. The Temporary Equity accounts have the following balances on July 31st: Revenue $100,000 Withdrawals $20,000 Salary Expense $50,000 Utility Expense $10,000. Required: Record the four closing journal entries in the closing journal. 2.This is the first accounting period for Fiona Franklin Financial Planning. The Temporary Equity accounts have the following balances on June 30th: Revenue $200,000 Withdrawals $40,000 Salary Expense $30,000 Utility Expense $1,000. Required: Record the four closing journal entries in the closing journal.