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Exercise 6.1 Journalize closing entries. LO 6-1 On December 31, 2019, the ledger of Lopez Company contained the following account balances: Cash $ 66,000 Maria

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Exercise 6.1 Journalize closing entries. LO 6-1 On December 31, 2019, the ledger of Lopez Company contained the following account balances: Cash $ 66,000 Maria Lopez, Drawing $ 52, 000 Accounts Receivable 5,800 Fees Income 107 , 500 Supplies 4,200 Depreciation Expense 5 , 500 Equipment 52, 000 Salaries Expense 34 , 000 Accumulated Depreciation 5,000 Supplies Expense 6 , 000 Accounts Payable 6,000 Telephone Expense 5, 200 Maria Lopez, Capital 121,500 Utilities Expense 9, 300 Prepare the closing entries for the above transactions

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