For this question its "T" accounts. i am not sure how to plug in the numbers in the proper account. and on what side to put them.

APPLY THE CONCEPTS: Journalizing closing entries for the year ending December 31, 20--

Using the Adjusted Trial Balance, prepare the journal entry to close the revenue accounts. For grading purposes, close the revenue accounts in the order listed on the Adjusted Trial Balance.

If an amount box does not require an entry, leave it blank or enter "0".

+ Adjusted Trial Balance

Adjusted Trial Balance
For December 31, 20--
Cash	70,000
Accounts Receivable	29,000
Prepaid Insurance	16,000
Equipment	60,000
Accumulated Depreciation		40,000
Accounts Payable		10,000
Salaries Payable		8,000
Owner's Capital		20,000
Owner's Drawing	5,000
Fees Earned		175,200
Rent Revenue		120,400
Selling Expense	147,200
Depreciation Expense	46,400
	373,600	373,600

APPLY THE CONCEPTS: Closing entries with T accounts

The closing process is illustrated in the following diagram with the use of T accounts. As you can see, Drawing is not closed to Income Summary but closed directly into Capital. This is because Drawing is not an expense and does not reduce net income.

Using the adjusted trial balance provided below, complete the closing entries in the following T accounts.

	Owner's Capital
				20,000
			Bal.

	Income Summary
			Bal.

Owner's Drawing
5,000
Selling Expense
147,200
Fees Earned
			175,200
Depreciation Expense
46,400
Rent Revenue
			120,400