Crane Clark opened Cranes Cleaning Service on July 1, 2020. During July, the following transactions were completed.

July 1Crane invested $19,900 cash in the business.

1Purchased used truck for $8,800, paying $3,900 cash and the balance on account.

3Purchased cleaning supplies for $2,000 on account.

5Paid $1,800 cash on 1-year insurance policy effective July 1.

12Billed customers $4,500 for cleaning services.

18Paid $1,600 cash on amount owed on truck and $1,500 on amount owed on cleaning supplies.

20Paid $2,500 cash for employee salaries.

21Collected $3,400 cash from customers billed on July 12.

25Billed customers $6,000 for cleaning services.

31Paid $350 for the monthly gasoline bill for the truck.

31Withdraw $5,600 cash for personal use.

Journalize closing entries and complete the closing process. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order displayed in the problem.)

Date Account Titles and Explanation Debit Credit (To close revenue account) (To close expense accounts) (To close net income / (loss)) (To close drawings)