E46 Michaels Esports Tutoring reported the following partial list of accounts in its June 30, 2020, financial records:

Michael Lucas, Capital.................	$118,400	Interest Expense..............................	$ 8,800
Service Revenue............................	256,400	Accounts Receivable.......................	56,000
Unearned Revenues......................	5,400	Salaries Payable...............................	3,400
Salaries Expense............................	70,000	Amortization Expense....................	40,800
Accumulated Amortization.........	140,000	Rent Expense...................................	23,600
Supplies Expense..........................	11,800	Michael Lucas, Withdrawals.........	90,000
Interest Revenue............................	5,800	Supplies............................................	5,600

Required

1. Prepare the companys closing entries. Include explanations.

2. Prepare a T-account for Michael Lucas, Capital. What is the ending Capital balance at June 30, 2020?