Danos Companys partial worksheet for the month ended December 31, 2019, is shown below. Open the owners capital account (account number 301) in the general ledger and record the December 1, 2019, balance of $83,000 shown on the worksheet.

	INCOME STATEMENT				BALANCE SHEET
ACCOUNT NAME	DEBIT		CREDIT		DEBIT		CREDIT
Cash					26,500
Accounts Receivable					25,800
Supplies					10,900
Equipment					69,000
Accum. Depr. - Equip.							23,800
Accounts Payable							20,400
D. Danos, Capital							83,000
D. Danos, Drawing					7,900
Fees Income			57,400
Salaries Expense	30,600
Rent Expense	4,700
Supplies Expense	2,350
Depr. Exp. Equip.	6,850
Totals	44,500		57,400		140,100		127,200
Net Income	12,900						12,900
	57,400		57,400		140,100		140,100
Prepare the closing entries for the Danos Companys on December 31, 2019. Post the closing entries to the owners capital account. Prepare a postclosing trial balance. General Journal 1. Record entry to transfer fees income to income summary 2. Record entry to transfer expenses to income summary 3. Record entry to transfer net income or net loss from income summary to capital 4.Record entry to transfer drawings to capital account General Ledger - Post the closing entries to the owners capital account. Trial Balance - Prepare a postclosing trial balance.